Consideration for purchase of House property.

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When selling a house property to a couple (husband and wife), the wife can indeed be listed as a purchaser even if she doesn't contribute financially. From a legal and tax perspective for the seller, this arrangement is generally considered a gift to a relative and typically poses no issues or tax implications for the seller. The transaction proceeds without affecting the seller.

vsraj

vsraj (Querist)

29 September 2020 I am selling my house property to A and B (Husband and Wife). Whether wife can be a Purchaser along with her husband without contributing any amount ( consideration) for purchase of the House Property.
From Legal and Tax angle how it will affect the Seller ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

29 September 2020 Yes, wife can be a Purchaser along with her husband without contributing any amount ( consideration) for purchase of the House Property.
It will fall under gift to relative no tax or legal issue and it will not affect the seller.

vsraj

vsraj (Querist)

29 September 2020 Thank you Sir for your opinion

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

29 September 2020 You are welcome.......

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