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)
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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)
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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)
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29 September 2020 Thank you Sir for your opinion

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 September 2020 You are welcome.......

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