Question

Property transactions made under fictitious name are called ____

• A. Benami transaction
• B. Promissory transaction

Answer 1

The correct option is A Benami transaction

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Benami transaction is a transaction where a property is held by or transferred to a person, but has been provided for or paid by another person,the transaction is made in a fictitious name,the owner is not aware of denies knowledge of the ownership of the property,the person providing the consideration for the property is not traceable.