Can a son buy property from father?

It is perfectly legal for son to purchase a property from his father. No judgment/law is required. … There is no legal bar at all to by property from any person including children or parents.

Can a son buy property in father’s name?

If father purchased the property in the name of elder son by a registered deed of sale then younger son and father himself have no right.It is does not matter who had provided money. This provision is enacted after abolished of Benami Transaction in 1988.

Can a father sell his property to son?

The transfer of immovable property from father to son can be considered a gift. … … However, there is an exemption in case of specified relatives, which includes gifts from father to son. There is no restriction to transfer the property by gift deed or sale deed to his son or daughter by the father.

Can I buy property from my father in law?

Your father in law can transfer the property to your name by a registered sale deed on a tripartite agreement with the bank with regard to repayment of loan on the property. … Therefore if he seeks it to you for a consideration your brother in law cannot challenge it at a later time.

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Can I take over my father’s home loan?

13 Answers. You can take a loan from the bank even if the property is in your father’s name. In that case you can either take personal loan for certain amount or you can take home improvement loan as a co-applicant with your father.

Can father sell his property without consent of son?

No, ancestral property be cannot be sold without consent of successors in case of major and in in case of minority you might have to take permission from the court. And if property disposed without consent can be reclaimed.

Can I buy a property in my son’s name?

A If your sons are under 18 then no, you can’t buy the house in their names because minor children can’t own property – it has to be held in trust for them. … Unless you set up a trust giving yourself a life interest in the property, putting the house in your sons’ names would give them the power to sell it.

Can mother sell sons property?

According to Hindu law, if the father is alive, then the mother is not treated as a natural guardian. … If the property inherited from the father is not ancestral, then the mother has no right on the son’s property. She cannot sell it or transfer the property.

Can son sell father’s property after death?

This house cannot be sold legally without their NOC. This property belonged to your deceased father and upon his intestate death, the properties shall devolve equally on all his legal heirs. … On the intestate demise of your father his share devolved through succession equally on his widow and all children.

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Can mother buy sons property?

Yes, son can purchase the property from his mother . … Son has to take care that will should be registered or there is no objection from other legal heirs.

Can children buy parents property?

A son may buy the property of his parents. The Civil Code enumerates those who cannot participate in a sale. … Before that, your parents can do anything with their properties. In this case, your parents would like to sell their property to you.

Can children buy home from parents?

Your parents own the home outright, and you can purchase it with cash or take out a new mortgage. The mortgage isn’t paid off, but the loan is assumable, meaning you can take it from your parents and pick up the payments where they left off. The mortgage isn’t paid off and the loan is not assumable.

Can I buy my parents property?

4. Can I Buy My Parents House For What They Owe? Yes, you can buy your parents’ house for what they owe as some lenders allow parents to offer an “equity gift” to their child or family members. This means your parents can give you all, or a portion of the equity they have of the house.

Can daughter purchase father’s property?

According to Section 8 of the Hindu Succession Act 1956, read with the Schedule referred therein, daughters being Class I legal heirs, have the same rights as sons to the properties of their father, if the father dies intestate (without a will).