- As per law, a co-owner is entitled to three basic elements of ownership:
1.Right to possession, 2. Right to use and 3. Right to dispose of the property.
- The co-owner can sell or transfer his portion only when he has exclusive rights to that portion of the property.
- Hence, if you sell your undivided share , the prospective buyer cannot take possession of any specific part of the land unless the same is partitioned.
- Thus, for selling your share , you should try for a Settlement for division of the said property by metes and bound and ask an NOC for the same.
- Since you dont want to approach the Court for a partition suit , hence you should try to enter into a Family Settlement Deed with the other sharer of the property.
- If, you will gift your 50% share to any third party without the consent of othe co-sharer , then the third party will not have specified physical posession of the said property , and this will create hurdle for him and other co-sharer.
- Better issue a legal notice to other co-sharer for partitoin of the same , if he refused to enter into a Family Settlement Deed.