Dear Mates...

I have a technical question. here is the situation.

There is a property 100 % in my married sister's name ( family name on property is our because she married now, not when we bought it)

She is in UK....and has given me a SPA (special power of attorney) to execute sale on her behalf.

Now when I sell/do registry of property on her behalf....the payment cheque would be made in whose name....

Buyer is saying it shd be in my name...but I think it should be in her name

Thanks for the help





Moderators: sorry if this is a repeat/stupid thread, but I cudn't find any thing.
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  • The cheque would be in your sisters name as she is the owner of the property. The SPA just provides you the power to facilitate the deal on her behalf.
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  • Originally Posted by vgupta123
    The cheque would be in your sisters name as she is the owner of the property. The SPA just provides you the power to facilitate the deal on her behalf.


    Correct- SPA/PA does not make you an owner and as such transaction should be in name of owner to avoid any tax implication or legal tangle.
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  • Originally Posted by avinasht
    Correct- SPA/PA does not make you an owner and as such transaction should be in name of owner to avoid any tax implication or legal tangle.


    Thanks guys..thats what I thought....

    on other hand...if I do take the money on my name (as he is insisting) I see a benefit...further the investment from this money is going to be in my name...so the entry n exit of money can be clean....

    other wise the if I take money in her name and next property in my name...then it will be difficult to show flow of money....

    so what could be the concerns (legally) if I do take money in my name as buyer is insisting...
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