Registration of Property in the Spouse’s Name
Many times, the husband out of natural love and affection or with the intention of saving on stamp duty/registration fee purchase property either in the wife’s single name or in joint names.
The husband may pay the entire consideration amount by taking loan and the wife may have not contributed single penny, still she becomes owner of the property.
Sometimes the wife is earning more than the husband and she includes his name in the property and she is paying EMI to the creditor bank.
In case there is a matrimonial dispute, the property purchased in the spouse’s sole or joint name gives negotiation power to non-contributing spouse and that may cause heart burn to the paying spouse.
If the property is purchased on loan, then the wife may obtain orders from the court directing the husband to pay EMI to the creditor bank, along with monthly maintenance for the wife and their children.
Under the above mentioned circumstances, property cannot be sold without consent of the non-paying spouse or without settling matrimonial dispute at a loss.
The husband/wife are advised not to buy property in the name of their spouse’s during initial years of marriage.
You may file a civil suit for declaration that you are the economic owner of the property purchased in the name of your spouse under the Benami Transaction Act.
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