Two brothers purchased one flat
Querist :
Anonymous
(Querist) 07 September 2020
This query is : Resolved
Two brothers purchased one flat in mumbai with the help of home loan from financial institution.
But due to some technical issue financial institution ready to give loan to only one brother's name A
So both brothers signed MOU that they both have 50% share on property and second brother B will deposit 50% EMI to first brothers account every month. On paper first brother A is property owner where is second brother B have 50% general power attorney registered and that MOU paper.
After x years can first brother deny any share to second brother or sell flat without his consent
Isaac Gabriel
(Expert) 08 September 2020
It is hypothetical rather than legal query.If the contract/MOU is deviated the respective law will apply.Be prospective.
P. Venu
(Expert) 08 September 2020
In such a context, legal remedies could be sought; but, like every litigation, there are hassles.
Rajendra K Goyal
(Expert) 08 September 2020
Technically the property is in the name of brother A, he is owner of it. B has no claim on it.
Language and contents of MOU need to be referred to explore the scopes available for B.
Brother B can claim his paid amount if have proof of payment.
Show all documents to local lawyer and discuss in detail.
Hemant Agarwal
(Expert) 08 September 2020
1. "IF" Sale Agreement is registered in both Brothers name, THEN both brothers are EQUAL Title Owners of property, irrespective of who makes EMI payments.
2. Brother A can take proper registered documents from Brother B, undertaking his liability to pay equal EMI. You can safely junk away the GPA or MOU, more so since this will not have any legally enforceable value, during times of dispute.
Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com
kavksatyanarayana
(Expert) 08 September 2020
If the said query is real, the brother who has a 50% share on POA, after some years the other brother can sell that 50% to someone else.
Dr J C Vashista
(Expert) 09 September 2020
It is advisable to avoid giving examination paper.
SHIRISH PAWAR, 7738990900
(Expert) 09 September 2020
Hello,
Brother whose share is denied can take legal action against the other brother. Send legal notice and file a civil suit against another brother.
