What to ask someone who just bought a house?
To weed out the duds from the diamonds, here are 15 questions to ask when buying a house.
- What’s my total budget?
- Is the home in a flood zone or prone to other natural disasters?
- Why is the seller leaving?
- What’s included in the sale?
- Were there any additions or major renovations?
- How old is the roof?
When buying a house when is it legally yours?
Settlement usually takes place around six weeks after contracts are exchanged. This is when you pay the rest of the sale price and become the legal owner of the property.
Do you meet the owners when buying a house?
There’s really no point in your being present when your agent shows potential buyers around your home. That’s not the case when you’re in a “home for sale by owner” situation or are using a discount service. You’re probably the best-qualified person to conduct viewings.
Can a house be purchased in the name of a stranger?
The Court also laid down that there is a predominant judicial view that there is nothing in section 54F to show that the new house must have been purchased in the name of assessee himself. Moreover in this case the assessee has not made investment in the name of a stranger; rather he has purchased the same in the name of his wife.
Can a man own a house in his wife’s name?
According to the ruling, a man has ownership of the purchased property even if it is in the name of the wife. The decision was taken keeping into account the fact that it was the husband who had put in his money and the source of these funds were known and legal.
Which is case of property purchased in wife’s name?
In the case of CIT vs. Natarajan reported in 287 ITR 271 (Mad), the assessee therein had sold a property at Bangalore and purchased a property at Anna Nagar in the name of his wife and the Tribunal had held the issue in favour of the assessee and the Hon’ble High Court had refused to interfere with the findings of the fact by the ITAT.
Who is real owner of property purchased in different name?
The Tribunal also noted the argument that the property was purchased by the assessee in the joint name with his wife for ‘shagun’ purpose and because of the fact that the assessee was physically handicapped. The Tribunal further concludes that as a matter of fact, the assessee was the real owner of the residential house in question.
