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Recently my cousin purchased an apartment costing Rs. 21/- lakh.  Out of this, Rs. 6/- lakh was invested by his mother and remaining Rs. 15/- lakh is though Bank loan. When he applied for the loan he made his wife as co-applicant, even though she is not paying her share of EMI. The property is registered in his name. His wife is showing lot of instability in their relationship. He now fears that they might get separated. He doesn’t want the property to go to his wife.
Please advise what he should do so that the property would not go to his wife?

- by Sudarshan, Bangalore

The property is purchased in the name of your cousin. His wife is made a co-applicant / co-borrower for the bank loan. She doesn’t have any stake / claim over the property standing in the name of your cousin but on the contrary she has liability for repayment of the loan as a co-borrower. Hence, the property purchased by your cousin can be enjoyed by him as his exclusive property and his wife will have no claim over the property.

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These are all the legal questions answered by Advocate S.Selvakumar in various magazines, in various occasion including realestate reporter monthly.

QUESTIONS

Q:- I purchased a flat with the approved sanctioned plan-ground plus three floors.  Now the developer has constructed pent house and on top of that there are water tanks. We have not got occupancy certificate so far, the builder is trying to bribe the concerned authority for occupancy certificate. Will he be successful? There is also no fire fighting measures in the building and the building is more than 19 meters in height. Kindly let me know that whether I will get the occupancy certificate in this condition.

Q:- I am Ambika and am working in Bangalore. Here, I booked one flat (and got flat registration based on Undivided land) in Sep-04 which was under construction and expected to be completed in June-06 end. I have paid the gross amount (Flat Value) in 8 installments starting from Sept-04 to June-05 (I am supposed to pay sales tax in last week of June-05) I came to know that service tax is now applicable on Flat purchased from 1st June 05. I am in doubt whether I have to pay service tax or not. Please clear my doubt and let me know whether service tax is applicable or not for those who have booked (and registered) the flat in Sept-04 but flat completion is in June-05. If yes, then how much will be the service tax.

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