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Siddhi   31 March 2023

ASSIGNING OF SHARE IN PROPERTY.

I am co owner and also 1out of 3 administrator appointed by High Court at Mumbai.

I have 20% share in the two ownership flats and other legal heir are not agreeing to pay me at market rate towards my share.

Can I assign my share to a third party who is willing to buy it as property is very very prime at walking distance from Santa Cruz W Station.

TIA.


Learning

 3 Replies

T. Kalaiselvan, Advocate (Advocate)     31 March 2023

It may not be possible to let your own share in the property on lease or sell it  without identifying your share.

Your coshareholders may obtain a permanent injunction against you.

Hence you may approach court with a suit for parition, get your share of property divided  with proper demarcation, get it mutated to your name properly and then sell your share of property to an outsider if there is no consensus is arrived among the shareholders.  

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     31 March 2023

After the division through the partition deed as per court order, each member becomes the independent owner of his share in the property and is legally free to sell, rent or gift his asset, according to his wishes.

Dr J C Vashista (Advocate)     01 April 2023

You have stated to be "co-owner" and "administrator" appointed by Bombay High Court, is it true and correct statement ? I have doubt.

Check with your lawyer.


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