other co owners can seek division of dwelling unit
2) if you refuse they can file suit for partition for division of property by metes and bounds
3) if property cannot be divided court can direct sale of property
I am 40%owner of a dwelling unit in Chandigarh residing in whole house since1991.can the other 3 owners 20% each ask for possible or sale
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other co owners can seek division of dwelling unit
2) if you refuse they can file suit for partition for division of property by metes and bounds
3) if property cannot be divided court can direct sale of property
The other owners can eiher sell their shares to you or you can sell your share to them.
It can be settled by mutual agreement among you all.
In a partition suit, the court may not order to partition the dwelling unit if the the dweller refuses to vacate to facilitate division or if it is not possible to divide the property.
If no consensus is arrived among the warring parties, the court may pass an order to bring the property to auction and distribute the sale proceeds among the shareholders according to their entitlement.
they may be but can not sell or letout the property without your consent, it will be better to file a partition suit and get your share if amicably settlement is not possible with them, along with an application U/O 39 Rule 1 & 2 of CPC and get restraining order against them for creating third party interest.
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If I who is 40% share holder buy their 60% share at the circle rate and when is this possible .if there r 2 male heirs can married girls ask for partition and possession
If I who is 40% share holder buy their 60% share at the circle rate and when is this possible .if there r 2 male heirs can married girls ask for partition and possession
There is no legal infirmity in buying the shares of other shareholders provided all other three shareholders are alive now and re willing to sell their share of property to you.
If anyone of the shareholder is not alive now, then the legal heirs of the said deceased shareholder can execute the sale deed jointly in your favor.
Please note that all the transactions should be by a registered deed or document only.
Any unregistered deed shall be held invalid and later on some other person shall claim the share for which you may have to run between courts.
Married daughters have equal share in property
It is better you purchase shares of all other legal heirs at the circle rate