My son bought a flat in his name back in 2013, but we funded it using jewellery we mortgaged with the bank (my wife’s and my mother’s) and loans from relatives. Now he wants to move out, sell the flat, and wants half the money. We don’t agree. How can we resolve this situation? The flat is worth around 70 lakhs.

Apni Law
Apni Law
Law Forum › Category: Property › My son bought a flat in his name back in 2013, but we funded it using jewellery we mortgaged with the bank (my wife’s and my mother’s) and loans from relatives. Now he wants to move out, sell the flat, and wants half the money. We don’t agree. How can we resolve this situation? The flat is worth around 70 lakhs.
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Apni Law Staff asked 2 years ago

My son bought a flat in his name back in 2013, but we funded it using jewellery we mortgaged with the bank (my wife’s and my mother’s) and loans from relatives. Now he wants to move out, sell the flat, and wants half the money. We don’t agree. How can we resolve this situation? The flat is worth around 70 lakhs.

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Best Answer

Apni Law Staff answered 2 years ago

Based on Indian law, your son may have a claim on the property since you funded the purchase. You should consult a lawyer to determine the exact legal ownership structure and your rights. Negotiating a fair settlement, potentially involving a mediator, could be a suitable resolution.

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