HOME OWNERSHIP
Another situation which affects many people in our community, especially the middle class, is the acquisition of a home. In many instances the house is built or purchased jointly by several members of the family. If the father has commenced the building of a house, the sons also contribute from their personal incomes to the extent of their ability. However, in most of these instances these contributions are made without considering any of the resultant factors, and often without any proper records being kept. It is not determined whether the amount that the son has contributed is a (a) gift to the father or (b) a loan to him, or (c) is he becoming a proportionate shareholder in the home.