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Property dispute - have purchased SRA flat
1 year ago
I have purchased SRA flat in 2011.
He was my cousin brother . We gave him cash money in installments within a year.He purchased ला
land in his village.
Now my cousin brother died .We neither registered property nor done power of attorney.
Now his wife is not cooperating us in tranfer of property
What should be done to tranfer it on my name.?
A.Dear client,
According to section 269SS of Income Tax Act, while transacting Immovable Property, 100% penalty will be levied if seller has accepted an amount of Rs. 20,000 or more in cash from the buyer. So, you cannot buy the property entirely like that in cash.
From a buyer's point of view, it is always advisable to get the sale agreement registered. You may file a civil suit and also seek to compel the erring party to complete the deal under specific performance in this case.
According to section 269SS of Income Tax Act, while transacting Immovable Property, 100% penalty will be levied if seller has accepted an amount of Rs. 20,000 or more in cash from the buyer. So, you cannot buy the property entirely like that in cash.
From a buyer's point of view, it is always advisable to get the sale agreement registered. You may file a civil suit and also seek to compel the erring party to complete the deal under specific performance in this case.
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