our father purchased a plot in 1985 and registered on our mother's name who never earned. Then our mother executed and registered a gift deed (settlement) of the same plot favoring our elder brother. Does this transaction is a benami ? If so, does this comes under the purview of 'Benami Property (Prohibition) Act, 1988' ?
11.06.2014
Dear Sir / Madam,
No. This transaction is not a benami transaction. It is a valid Gift Deed as per the Gift Act.
Regards,