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Buying a property

Legal Issues & Help
nupuragarwal 4 Nov 2012, 08:12

I am trying to buy a rented property of approximate Rs. 5 crores with bank loan for future rental income and property appreciation. Considering that we have to take a loan and good income might be generated in future by way of rent and property appreciation capital gain, should this property be brought in personal name or limited liability partnership or private limited. Let me know the advantages and disadvantages associated with it and the reasons thereof

2 Replies

AnonymousLLB 5 Nov 2012, 05:07

Given that you are spending 5 cr on purchasing encumbered property, I suggest that you spend a bit more and take advise of really competent chartered accountants on your query. Your question is more finance/tax related than law. I would never trust free advise of a lawyer obtained from an online portal for such a high stakes transaction. Also, bear in mind that a good percentage of those who frequent this website are students/fresh lawyers who really are not the best bet in your case.

AnonymousLLB 25 Dec 2012, 11:56

Can you please elaborate on what basis you say that the existing law on adverse possession is “reasonable”?

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