hi,
I am currently searching for a property in mumbai.We liked a property owned by a landlord(paghdi).The owner(landlord) offered us two options:-
1)Buy the property on co-ownership basis?
2)Buy the property on ownership basis(obviously for a higher price)?
I have below questions:-
1)what would be the rights of the landlord on co-ownership?is it same as I bring a tenant in paghdi system?
2)in case in future if we sell this property, do we need to share the sale proceeds?If yes what would be the ratio?
3)If we go for full ownership, can landlord sell a flat in his building on ownership basis?
Kindly help me out with the above questions. Kindly specify sections and respective acts applicable as TOPA and Maharashtra rent control act doesn't throw much light on this.
thank you!
2)