Co owned house
Kumar......
(Querist) 20 June 2018
This query is : Resolved
i and my wife own a house. i am not working due to health reasons, my wife is paying the EMI. now we are planning to sell the house. can i get an idea how much money i will be getting from the sale of house ?
Ms.Usha Kapoor
(Expert) 21 June 2018
If it is located in Prime area, Market value of similar house in the neighborhood etc we don't or can't estimate the sale price of the house.
Ms.Usha Kapoor
(Expert) 21 June 2018
If it is located in Prime area, Market value of similar house in the neighborhood etc we don't or can't estimate the sale price of the house.
R.Ramachandran
(Expert) 21 June 2018
Both of you may get equal amount. However, to the extent of your share of EMI which your wife paid, she may like to adjust the same from the amount payable to you from the sale proceeds of the house. (It is mutual give and take. There is nothing legal about it). As far as the buyer is concerned, if you so wish, he will give cheque of equal amount to each of you (of course after deducting TDS if applicable)
Hemant Agarwal
(Expert) 21 June 2018
1. Joint-Owners, are entitled to equal ratio of the Flat Sale-Proceeds, irrespective of their ratio of individual contributions to the purchase of the Flat.
2. For any disputes to the adverse of the above, such claim has to be filed before a Civil Court, with proper documentary evidence.
Keep Smiling .... Hemant Agarwal
Vijay Raj Mahajan
(Expert) 21 June 2018
General rule is equal share to both of the proceeds got after the sale of the immovable property.
Otherwise if there is disperancy/difference in the amount invested by both in the purchased of the property, logically both should get proportional amount of money invested by both in the property.
Kumar Doab
(Expert) 21 June 2018
Same Query;
http://www.lawyersclubindia.com/forum/Co-owned-property-184329.asp
Kumar......
(Querist) 22 June 2018
experts started responding saying "Not a legal query" ended with "same query". anyway...what is your final say Sir.
will i get my share of investment or the sale proceeds will be shared equally between us regardless of who invested how much ?
