Ownership of flat
Guest
(Querist) 13 July 2013
This query is : Resolved
In 1980, we bought a flat with family pooling of funds. Father pooled in 40%, brother B1 -40%, brother B2 -10%, brother B3 -10 %.
The flat was bought in the name of the eldest brother B1 and the title deed is in his name.
Is brother B1 the sole and exclusive owner as the title deed is in his name?
If the flat is to be sold , will brother B1 get all the money or do the other brothers have a legitimate share in it by virtue of their pooling in money to buy the same?
Does ownership get affected if B1 is not physically residing in the house? Father, B2 and B3 have been living there since it was bought.
Advocate M.Bhadra
(Expert) 13 July 2013
Since The Benami Transactions (Prohibition) Act passed in the year 1988. If the flat purchased by a registered deed of conveyance in the name of 'B1' then he is the absolute owner.If the flat to be sold then he will get entire money,it does not matter who are provided money at the time it was bought.
The Benami Transactions (Prohibition) Act 1988
SEC.4;-- Prohibition of the right to recover property held benami. –
(1) No suit, claim or action to enforce any right in respect of any property held benami against the person in whose name the property is held or against any other person shall lie by or on behalf of a person claiming to be the real owner of such property.
(2) No defence based on any right in respect of any property held benami, whether against the person in whose name the property is held or against any other person, shall be allowed in any suit, claim or action by or on behalf of a person claiming to be the real owner of such property.
(3) Nothing in this section shall apply –
(a) where the person in whose name the property is held is a coparcener in a Hindu undivided family and the property is held for the benefit of the coparceners in the family; or
(b) where the person in whose name the property is held is a trustee or other person standing in a fiduciary capacity, and the property is held for the benefit of another person for whom he is a trustee or towards whom he stands in such capacity.
Rajendra K Goyal
(Expert) 13 July 2013
B1 is the owner, others have no right, they can not claim their money as claim time barred. Amicable agreement is way left.
Raj Kumar Makkad
(Expert) 13 July 2013
The exclusive ownership vests in B! and thus none has any legal claim against the given property.
R.K Nanda
(Expert) 13 July 2013
nothing to add.
