TaxTMI 
TaxTMI 
I live in USA. I want to know if i can buy and register a property in my father-in-law's name.
What are the tax implications?
Buying property in in-law's name
18 Dec 2016 
2 Replies 
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Gift transfer to in law: ensure foreign exchange compliance and documentation before purchasing property in their name.
Whether a nonresident may purchase property in a father in law's name raises two compliance considerations: tax attribution versus documented gift treatment, and adherence to foreign exchange and remittance procedures. Documentary evidence of the transfer's nature and use is decisive for tax treatment, and funds remitted from abroad should be routed through compliant banking channels before acquisition or registration to align tax and exchange compliance. (AI Summary)
Whether a nonresident may purchase property in a father in law's name raises two compliance considerations: tax attribution versus documented gift treatment, and adherence to foreign exchange and remittance procedures. Documentary evidence of the transfer's nature and use is decisive for tax treatment, and funds remitted from abroad should be routed through compliant banking channels before acquisition or registration to align tax and exchange compliance. (AI Summary)