VV1 (a) 22 November 2013

Property sale to joint owners

Hello,

I am interested in selling a piece of land registered in my name.

My questions are:

1.Is there any legal issues in selling from single owner to Joint Owners.( 3 brothers)

2.How should the payment be received, individually or a Single payment from one of them. Is there any legal problem later with this.

3.Since I do not prefer cash payment, I am insisting on a Single Cheque payment and like to register the sale deed Only in the name of the person who gives the cheque. IS this OK

4. Is DD payment safer than cheque, but I may not know the source or share from the brothers , or who paid the amount for the DD, and i dont want to face any trouble later.

Thanks,

Venkat

Reply Follow

1 Replies

Adv.Vandana Vaidya (Advocate & Regd. Patent Attorney) 22 November 2013

The answers to your questions are as below:

1. There is no legal issue in selling a piece of land from a single owner to joint owners.

2. Receiving single payment is also not a problem and even receiving separate payments is also not a problem.

3. You can demand cheque payment, but registering only in the name of the person who is drawing the cheque/DD is not necessary, as, if the buyer has no issues adding the other 2 names, then even you should not have it. All three might have pooled in the money or there must be some reason they want all the 3 names as buyers, so it does not matter and even you should not dispute this. It is the lookout of the buyers to demarcate their individual rights and shares in the sale deed. to be made.

4. Receiving DD is more advisable. You need not know the source of the funds, but as mentioned above, you can or the buyers can mention their shares in proportion ie in percentage, which will help them in future in case they wish to sell or divide the property.