share of property

joydeep chatterjee (Querist) 02 June 2010 This query is : Resolved
we are selling our ground floor for 22 lacs.
we (me,my mother and brother) are three share holder in the amount.how to distribute the amount within three of us?should we take the amount in three separate demand draft?is there any chance of fraud in demand draft may happen?i will be purchasing a apartment out of the sale proceedings.can i take other sharer's sale proceedings for purchasing of my flat? pls guide me.

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Ruchi Gupta (Expert) 02 June 2010
u can take the three cheques of equal amount in each of the shareholder name, so there is no confusion in that.

Raj Kumar Makkad (Expert) 02 June 2010
Its your mutual adjustment. Seller has to pay the entire amount and if you require 3 drafts and if he is ready for that then it can also be done.

If you take the money of other seller then take it as a loan otherwise the aforesaid amount cannot be used legally for your purchase.