We are 5 brothers and the current house i am living in is in Registered name of My expired father.My 3 brothers and my mother have sold their share to me ,So out of 6 shares i have 5 shares (including mine).One of my brother is not accepting the amount that i am ready to give and demanding more than the value of his share.
So my Question is If i go to court say " today" to decide the amount of his share and the court gives its decision nearly after 3 years. As my house in Hyderabad and the property value is going up day by day,Should i pay him his share value as per the value of property on the day of decision of Judgement of the court or as per the day i went to court to for deciding his share.
It is always the amount decided by the court. It doesnt make any difference when you give the amount to your brother. But if there is any interest laid down on the amount, then you have to pay that too.
You can only seek partition and separate possession of the property. Normally, only if the property is indivisible or your brother agrees for a compensation to his 1/6th share , the court would to determine the value of the share and such value shall be on the market value on such date.