Partition

eswaramurthi (Querist) 21 April 2012 This query is : Resolved
What is the legal term which was used at the time of partition that the co-sharer gets amount instead of his right share land ?

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R.K Nanda (Expert) 21 April 2012
It is called Coparcenar.

SAINATH DEVALLA (Expert) 21 April 2012
In continuation to Nandaji's answer,please read Section 43 in The Transfer Of Property Act, 1882.

Devajyoti Barman (Expert) 21 April 2012
It is called 'Owelty Money'.

Shonee Kapoor (Expert) 21 April 2012
I agree with ld. Barman.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

M V Gupta (Expert) 22 April 2012
I agree. Owelty money means the diiference which is paid by one coparcener to another for the purpose of equalising a partition. Pl see the SC decision in Swaminadha Odayar VS Official Receiver-AIR 1957 SC 577. (cf. p.530.Mitra's legal dictionary)

eswaramurthi (Querist) 06 May 2012
Thanks for all the experts for their right answer and thanks for Lawyers club of India.Thanks.

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