Will the court accept this arrangement?

Yes, the Court will willingly accept this offer, provided your wife is ready for this.

You are free to buy a property in the name of your minor son. If you desire, you may go for a joint purchase. In fact, I will suggest you to go for a joint purchase.

Will i get the tax rebate on the house purchased in name of the son?

No, there will be no rebate in stamp duty.

Better go for joint registration of property with your son. Since he is minor. Secondly the court will readily accept this agreement since in mutual divorce court will decree suit as per agreement entered between you and your wife. You will not get any tax rebate if you purchase in name of son and also no rebate on stamp duty.

You can buy property in joint names with your son

2) in the alternative buy property in name of son

3) court should accept the arrangement

4) you will not be eligible for any tax benefits on the loan taken to acquire the property in son name

1. Yes you can definitely purchase a property on the name of the minor child through the next best friend.

2. You may by jointly also or in the name of son also, depends as to on what your wife agrees.

3. Since you will be paying therefore you will get all the tax benefits arising out of the said transaction.

4. Yes the court will

Regards

1) For Tax benefits you have buy property jointly and first name should be yours and second name your son. This can be convince message to counselor or mediator. And the results depends upon mediator. Or you can ask to court regarind this matter.

Yes

Court may accept it

Law allows one to take any kind of property to be purchased in the name of minor or unborn ( Section 13 of transfer of property Act )

However till that person attains 18 years of age, property will be handled by a guardian. Most of the cases parents are the guardian. However court can also appoint a lawful guardian.

If the property is sold at any stage by the guardian he again has to take courts permission by showing that it is being used for minors education and welfare.

You can take the property as joint holder or. Individual law allows both the things together

Or u may take the property in sons name and appoint yourself as guardian and care taker

You can very well show the same loan in your income tax as you might be individual payer which involves minor son too and take the relaxation of 2 lakhs

However as far your divorce in concerned you can plea court to give u relaxation bcoz for son u will be creating rental income and lum sum is good of maintainence else every month with hike every year becomes hectic and expensive creating a burden

Yes you can be purchase property.in name of your child though there can be no liability in property.for child and guardian need to be mentioned in deed who takes.care of property till child is not adult.

2. Yes you.can purchase in joint name and you can be guardian too for child but your wife should agree for this

3. Yes, The Mumbai ITAT (Income Tax Appellate Tribunal) has recently held that if someone has made the entire investment for the purchase of a new house, he is entitled to get the full benefit of the income tax exemptions, even if the property has been purchased in the name of a close relative.

4. Yes, as it is mutual consent your wife should agree to this.

Hi, the court can accept your decesion , as it is for the well being of the minor ..However , if she is also agreeing to it , then there is no need to contest it before the court .. Try and settle it amicably , if she denies then you can plea before court .. For futher doubts you can contact me in person .. Thank you

wife cannot sell property standing in minor name without court consent

2) if she does so minor can within period of 3 years of attaining majority file suit to set aside sale of his property

Dear Client,

Instead of FD, can I purchase a property in name of the minor son?

(I am assuming housing loan can be available at 9% and I may get tax rebate also. Moreover, the asset will give better return for the benefit of my son's future.) -- Property will give more better returns in future and of course a certain dwelling.

Shall I buy property in joint name with son? or totally in name of my son? --- Depends on you, if in joint name than in case of any hardship, u can sell the property, but minor property cannot be disposed without court order that also for his welfare.

Will i get the tax rebate on the house purchased in name of the son? --- No tax rebate. You can invest a maximum of Rs.1,50,000 in your name and minor kid’s name.

Will the court accept this arrangement? - Court has no objection to any legal settlement.

No she cannot sale the property directly, she can sale the property only by permission of court and only for benifit of child is required to be proved before the court.

yes it would be better if you are guardian of the property.

As per clause (a) of subsection (2) of Section 8 of the Hindu Minority and Guardianship Act, no immovable property of the minor can be mortgaged or charged or transferred by sale, gift, exchange or otherwise(by the guardian) without the previous permission of the Court.

You should be the guardian

the property can not be sold by the guardian also without the permission of the court

Regards

You need not register property in her name since she can misuse it telling that she wants to sell property for benefit of child. You insist that you will be guardian of sons estate till he attains majority

Instead of FD, can I purchase a property in name of the minor son?

(I am assuming housing loan can be available at 9% and I may get tax rebate also. Moreover, the asset will give better return for the benefit of my son's future.)

This question should be put before your spouse who is seeking FD for the son's future.

However it is a good idea of buying immovable property on the name of the minor, after which either you or his mother can be a guardian to him till the time he is becoming major and the rental income from the house property can be used for his welfare instead of the interest from FD.

Shall I buy property in joint name with son? or totally in name of my son?

Will i get the tax rebate on the house purchased in name of the son?

Will the court accept this arrangement?

if she accepts for joint purchase then you can buy it on joint names, however if it is a joint purchase then your son will get only half share in the property, this will certainly objected to by her.

You may not get rebate in income tax for the home loan interest paid to the property which is not in your name.

Court has nothing to do with the arrangement or agreement between you both.

If i buy the property in my son's name, and my wife insist on being the guardian can she resale the property and misappropiate the proceeds (just in case).

Or shall i insist on being the guardian.

The minor's immovable property cannot be sold by the guardian during the minority of the owner of the property.

She can be appointed as guardian to the minor son for this purpose.

She may have to take permission of court for this, you may record your objection before court at that time.

The court will not generally grant permission so soon without any valid reason for selling the property lying on the minor's name.

1) If you are going to purchase the property on your son's name insist you should be guardian. or if your wife insist herself than try to insert your name as well.

You can have of option of buying property in son's name or your joint name. You can propose the same before mediation Court. Court can accept the arrangement as it is not against the interest of the son