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Purchase of house property
My father wants to purchase a house property on my name. At the time of registration of house, should my father transfer the amount of money in my saving account and then i make the payment to the seller or should he make the payment from his own account and make the registration on my name?
Replies (3)
your father should transfer money to your account then you should purchase in your name.
what is the benefit in this case sir?
CA kunj goel's view is right,
Your father should transfer to you and you should pay to seller.
If father pays for the loan direct, we can't justify why he paid and what will be his status, as U/secured loan or as a doner.
If he pays us, he will remain as unsecured loan provider in our books. Later we can repay him back. Or he can gift us the sum.
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