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shyam lal   06 May 2022

Transfer of property share

I have 50% share in immovable property as per Mou of family settlement unregistered on stamp paper with witness signatures.Situation is I want to sell my 50% share to the third party because the co share holder (brother) is not willing to pay or buy my share .hence with out his consent orally or written .(there is no mention in the Mou that i have to take consent or intimate my intention to sell my share to third party)Query ..what is the simplest way to transfer my share to third party.


Learning

 13 Replies

Advocate Y.K. Mehrotra (Advocate)     06 May 2022

Hello

An unregistered settlement is invalid in eyes of law.

however you may try to enforce the unregistered settlement deed since it has already been signed and is n the knowledge of the legal heirs of the deceased title holder.

Whatever worth it is , you may consult a local lawyer who is well versed in the property laws and file a declaratory suit to declare your title on the basis o the the said unregistered settlement deed along with an interlocutory application seeking injunction restraining the defendants from interfering in your possession or alienating the property till the disposal of the main suit.

shyam lal   06 May 2022

Advocate YK Mehrotra as a lay man your answer to my specific Query makes no sense to me!

Shashi Dhara   06 May 2022

As it is unregistered his consent or witness is necessary  if buyer is ready to buy sell it and hand over possession to him .

Advocate Y.K. Mehrotra (Advocate)     06 May 2022

Hello

I am sorry. I would try to re phrase it.

  1. Connect with a local advocate.
  2. File a suit for declaration of title 
  3. Based on the order you can now sell the property.

For further queries you can contact me at ykumarmehrotra@gmail.com or call me at 8130714043

shyam lal   06 May 2022

Advocate Mehrotra thanks for effect .under the present circumstances what is an other legal way to transfer my share with out Court order?

Advocate Y.K. Mehrotra (Advocate)     06 May 2022

To transfer you need ownership.

Ownership has to be acknowledged by the other party for you to make a sale. What can be done here is to conduct a negotiation like I normally do for such matter to get resolve before even getting to court.

 

shyam lal   06 May 2022

Advocate Mehrotra I am asking of transfer share in property & not Ownership .i think there is a legal difference.I may be kindly correct.

Advocate Y.K. Mehrotra (Advocate)     06 May 2022

Sir,

Does your 50% share in an immovable property is specified.  As to how many floors / rooms etc you have ownership for 

Or does is it subject upon determination of such share?

shyam lal   06 May 2022

Advocate Mehrota my apologies .for not mentioning that my share is 50% it is not specified by metes and bounds.what next...

 

Advocate Y.K. Mehrotra (Advocate)     06 May 2022

Section 7 of the Transfer of Property Act, 1882 provides that every person competent to contract i.e. a major and of sound mind or is not disqualified by law for contracting. Therefore even the interest of a co-owner or co-sharer can be sold, mortgaged, leased to another co-sharer or to a stranger.

The fact that the partition has not taken place by metes and bounds , does not stand in the way of the interest of a co-owner.

1 Like

shyam lal   06 May 2022

This post was sent to me by oneJolly LLB co-owner can sell even his undivided share in the absence of any partition deed. The buyer of the share steps into the shoes of the co-owner. He can enforce partition. He acquires the rights of the transferor.

There by as I understand by Advocate Mehrotra post o can now enter into a Mou in writing pertaining the transfer of my share in property as I understand. Thanking you

Advocate Y.K. Mehrotra (Advocate)     06 May 2022

For more queries you can connect me at ykumarmehrotra@gmail.com 

Divya Vijayan   06 May 2022

Hello sir!

The easiest way to get your share is through family settlement. A family settlement agreement is similar to the partition deed. However, one does not involve any formalities of registration and stamping. Signatures of all the family members are a must in the family settlement agreement. Partition through voluntary settlement must be voluntary and without any force, threat, coercion, or fraud. It must be a fair and equitable settlement. If family settlement doesn't work you can proceed with partition suit. It comes into play when there's a disagreement between family members over property. 

You cannot sell the property during the pendency of the suit. Section 52 of the Transfer of Property Act, 1882 provides transfer of property of a pending suit wherein it is stated that in case of any suit or proceedings is continuing and any right to immovable property is directly and specifically in question, such property cannot be transferred or otherwise dealt with by any party to the suit or proceeding.


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