kumarreddy (student) 23 December 2020

Its self acquired property or not

Dear sir
I have fertilizer firm and running from last 5 years and iam the proprietor . The building where I run also registered (sale deed) on my name and 20 lacs loan on that building. I have one brother and he just signed as surity for the 20 lac loan and he is asking for share on that building and shop as not yet partitioned. Its my self acquired property and I am the absolute owner. What to do in this case. So my brother will get share if he goes to court. Pls suggest me.

Reply Follow

8 Replies

Advocate Bhartesh goyal (advocate) 23 December 2020

Since the questioned property is your self acquired property so your brother has no right and share in said property .He can not legally claim share in said property even then if you want to give him some share in property then you may give through registered gift deed.

kumarreddy (student) 23 December 2020

Thanks a lot sir for your suggestion. I don't want to give share on said property. But I have one query . My brother is in a plan to go for partition in said property and he is in a plan to stop business and he is blackmailing. pls suggest me what I need to go in this case .

G.L.N. Prasad (Retired employee.) 24 December 2020

Sorry, the facts never state as to the initial contribution towards building like Plot, and source of investment for the business is not clear. The important point is whether there was a division in the family by metes and bounds or a settlement deed in the past. Your brother claiming partition means, there should have been some contribution in the asset acquisition by an ancestor, however small that may be -but that seed determines the fruits. (seed may be small but if it is grown it yields many fruits)

kumarreddy (student) 24 December 2020

Thank You Sir. There is no partition among family. But land was divided among us and has title deed and online in revenue records from last 15 years and we are cultivating that land accordingly. I started my business by earning money through selling papaya and watermelon seeds and not used my family income. pls suggest me.

Dr J C Vashista (Advocate) 26 December 2020

The property is stated to have been registered in your name where your brother has no claim, interest, or title even if he moves the court for partition.

It would be better to consult and engage a local prudent lawyer for appreciation of facts and documents, professional advise and necessary proceeding.