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shyam lal   28 September 2021

Will

A Registered WILL of immovable property mentions division by equal share
.There is no mention of division by metes and bounds.

Hence one of the share holder in writing demarcated his share and sold it to a third party .

Query is can a share holder self demarcate his equal share & sell it off?


 2 Replies

Ananya Gosain   13 October 2021

Greetings!

According to the Transfer of Property Act, every co-owner has a proprietary right of the entire property. The sale has to be made with the consent of all co-owners. But if there is an agreement that gives the co-owners exclusive rights to certain parts/portions of the property, a co-owner can sell his portion.

As per the Hindu Succession Act 1956 If you are the sole and absolute owner of the house inherited by you then you are also entitled to sell the house to any third person. You will not need consent. If, however, you hold the house along with any other owner(s), you are only free to sell your share in that house to any person.

  • Joint tenancy – Each co-owner owns an equal share in the property. When a co-owner in joint tenancy dies, his share passes to surviving co-owners. There is a right of survivorship

Unless expressed, in the document of title to the property, the law presumes co-owners to be tenants in common u/s 19 of Hindu Succession Act, 1956, where the share of each co-owner is not specific. When one co-owner dies, his share passes on to his heirs as per his will or intestate succession. It means no right to survivorship.

Hope this helps

Regards

1 Like

shyam lal   13 October 2021

Attention Ananya Gosain.the Query is..can a share holder self demarcate his equal share & sell it off?while the other share holders are still alive?


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