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CA. Devanand Jethanandani (Chartered Accountant)     23 January 2014

Purchase deed for joint ownership

Suppose a property is purchased jointly by Mr. X and Mrs. X.

My question is, is it possible to execute Purchase Deed without mentioning Percentage of Ownership of each ?

 

Thanks,

CA. Devanand Jethanandani

Suppose a property is purchased by Mr. and Mrs. X jointly. My question is, is it possible to execute purchase deed without mentioning percentage of ownership of each ?? Thanks, CA. Devanand Jethanandani

Read more at: https://www.caclubindia.com/forum/purchase-deed-for-joint-ownership-278496.asp#.UuDIy_vhXIU
Suppose a property is purchased by Mr. and Mrs. X jointly. My question is, is it possible to execute purchase deed without mentioning percentage of ownership of each ?? Thanks, CA. Devanand Jethanandani

Read more at: https://www.caclubindia.com/forum/purchase-deed-for-joint-ownership-278496.asp#.UuDIy_vhXIU
Suppose a property is purchased by Mr. and Mrs. X jointly. My question is, is it possible to execute purchase deed without mentioning percentage of ownership of each ?? Thanks, CA. Devanand Jethanandani

Read more at: https://www.caclubindia.com/forum/purchase-deed-for-joint-ownership-278496.asp#.UuDIy_vhXIU


Learning

 2 Replies

R.K Nanda (Advocate)     23 January 2014

BETTER STATE IT TO AVOID LEGAL PROBLEMS IN FUTURE.

CA. Devanand Jethanandani (Chartered Accountant)     23 January 2014

Sir,

Is is so that it should be taken as 50:50, if percentage is not mentioned in the Purchase Agreement.

 

Thanks,

CA. Devanand Jethanandani


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