I have acquired a property 80% through loan and rest through personal loan and my dad put in around 5Lakhs. This was before I got married.
After marriage things were not so good at home, so I and my wife moved out of our house because we did not want to trouble my parents. I have a younger brother who along with my parents is occupying my house.
My parents have another property elsewhere, 15 Km from where they are put up right now. They have four houses (all four 2BHK) in 2048 sq.feet plot, two of which they have recently built and there is still some work going on. They are building it out of my father’s income and my brother has taken a loan for it and they have told me I have no share in it. I have signed a "no objection" with the bank for that property when my brother took the loan.
We are right now in rented apartment and figuring out a way to buy a house for ourselves and were thinking of selling our house. But my parents are not willing to move. My dad wants me to give me 1/4th of the profit (10 lakhs) and we are very disappointed with this.
I am willing to give what I can spare and not what he is demanding. Is there any way I could legally ask him to vacate. I am willing to give him back what he has spent provided he has the proof’s for it. But even then the sale deed is on my name and I don’t think I am obligated to give him anything.
Unfortunately things change after marriage and you future commitments come first before unnecessary luxury. My dad just wants to take the money and start a FD to get more money on a monthly basis. But that’s just unnecessary given our tight financial situation. Whatever I can spare could be repaid for the load which would save me a lot of EMI for the next 20 yrs.
Is there any way out other than negotiating.
