1) you are at liberty to sell your undivided share in land without consent of sister in law
2) purchaser can file suit for partition for division of property by metes and bounds
I jointly owned a piece of land in partnership with my sister in law. The deed has been duly registered in our name in Calcutta municipality. Now I wish to sell my right on the said pc of land. Whether it is legally possible and if so, how.
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I wish to sell my right on the piece of land to a third party.
1) you are at liberty to sell your undivided share in land without consent of sister in law
2) purchaser can file suit for partition for division of property by metes and bounds
Well she is a co owner and therefore unless you have demarcated your piece of land, you cannot sell your land without her permission. If she is not ready then file a partition suit and then sell the property.
Regards
Yes.you can sale your undivided share vide registered sale deed to the third party.
You just need to make sale deed for your share , the buyer shall pay stamp duty and deed can be registered before sub-registrar office.
Being a co-owner of 50% share in the property, you can sell your share. Under the provisions of Section 44 of the Transfer of Property Act, 1882.
You can sell your undivided share in the property to a third person if the said buyer is willing to buy it and get it partitioned at a later date.
Under whose possession is the said land. Secondly you have to ask your sister-in-law whether she wants to purchase the land. If she denies than you can sell it to third party.
1. IF the Land is "undivided", THEN you can sell your share, only to your Co-Owner. HOWEVER, IF the Co-Owner agrees, THEN you can sell your share, to outsiders, with mutual & joint signatures of yourself & your co-owner as "Consenting & Confirming parties" in the Sale Deed.
2. IF above is not possible, THEN you can sell your share, to outsiders, ONLY after conducting proper demarcation proceedings and Partition proceedings.
Well, it appears through a single registered deed your purchased the property along with your SIL.
If that is so then both of you have equal undivided share in the property.
Now there is no legal bar to sell your undivided half share to a third party stranger.
However in such case the problem is with the purchaser who can not take physical possession of the said portion until and unless the property is demarcated by metes and bounds.
So you after partitioning the same can sell your demarcated share as well.
You can sell your undivided share in the property to the prospective buyer without taking the consent of permission from the joint owner also provided that there is no estoppel condition attached in the joint registered sale deed imposing a bar or impediment (obstruction) which precludes a person from asserting a fact or a right or prevents one from denying a fact.
If you want to have a hassle free sale of your share in the proeprty, you can either the proeprty divide by an amicable partition between you and your partner and proceed with the sale of your share in the proeprty or you can take her consent to sell your undivided share in the property to a prospective buyer, this will make or ensure a free and peaceful sale of yor share in the property.
Since property is in the name of firm, so first firm will dissolve than can sell your share of land.
Yes you can sell your share in the said land to her if possible otherwise to sell to other it will create possession problem.
1. What is the area of the said piece of land?
2. Can the said piece of land be partitioned purposefully? I.E. Can each piece of the partitioned land be used by you and your sister in law for proper use like construction of building thereupon?
3. If no, then you shall have to offer to sell your share of the said land to your sister in law first and in case she refuses to buy, you can sell it to a third person.
1. First of all you shall have to sell your share of the land to your sister in law at the same price you are getting from the third party. This is called preemption.
2. In case she refuses to buy the same from you, you are free to sell it to the third party.
3. If you have purchased the land in the name of a partnership firm wherein you two are the partners, then your retiring from the said firm and inducting new partner substituting yourself will be governed by the terms and conditions mentioned in the partnership agreement.
1. Yes it is legally possible to sale your share from undivided land owned in joint partnership with your sister in law.
2. Under Section 44 of the Transfer of Property Act 1882, deals with transfers by one co-owner. Where one co-owners of immovable property legally competent in that behalf, transfers his share of the property, the transferee acquires the transferor's right to joint possession or use of the property