Dear sir, This is regarding a property around 50 sq yards purchased jointly by me and my brother in law . It is registered jointly . Now they have built up a house of 25 sq yards and left other 25 square yards. I want to sell that 25 square yards. What can I do to have clear legal rights of this 25 square yards in minimum expenditure. Also if only I am willing to pay stamp duty charges , and he is not wiling to pay . What can be done.
Ask a question and receive multiple answers in one hour.
Lawyers are available now to answer your questions.
1.Since the property was purchased in the joint names of two of you,the proeprty is a joint proeprty.
2.in that event unless you make a physical demarcation/partition of the same you can though sell but can not give the buyer possession of the sahre.
3. So make a written agreement with your BIL about rhd marcation and then sell your sahre.In the sale deed do make your BIL as confirming party so he may not oppose this sale alter.
You can sell your undivided share to any one in anytime. If the person who are ready to purchase the same then execute a registered sale deed. In the case of joint undivided share can be divided by way of filing a partition suit or amicable settlement demarcation of property.
enter into deed of family settlement for division of plot by metes and bounds
2) deed of family settlement should be duly stamped and registered
3) then sell your 25 sq yards of plot
What is the procedure to do 1) Family settlement 2)demarcation of property
Engage local lawyer
He will draft deed of family settlement
It would contain clauses for division of property by metes and bounds . You can engage surveyor for demarcation of boundaries
Deed of family settlement should be stamped and registered
The property which was jointly purchased by both have since not been partitioned till date despite the other party constructing a building in his portion of the property, it is advisable to draw a partition deed, register it and sell your own share in the property as per the partition deed to the prospective buyers.
Each individual has to bear the stamp duty respectively.
What is the procedure to do
1) Family settlement
2)demarcation of property
Whether family settlement or arrangement or partition deed, it should be a registered document in order to proceed individually to dispose the porperty.