Mark your share in a joint prop­erty

Iden­ti­fi­ca­tion of one’s spe­cific share in a prop­erty is dif­fi­cult and can com­pli­cate sale and trans­fer. How­ever, there are so­lu­tions

HT Estates - - Front Page - Su­nil Tyagi

There are nu­mer­ous rea­sons for which one or more co-own­ers of jointly owned prop­er­ties seek par­ti­tion. In a jointly owned un­di­vided prop­erty, it is pos­si­ble to com­pute the quan­tum of each owner’s share. How­ever, it may not al­ways be pos­si­ble to pre­cisely iden­tify and dis­tin­guish one owner’s share from that of the oth­ers. Par­ti­tion of a jointly owned prop­erty by metes and bounds (a sci­en­tific method­ol­ogy for mea­sure of land) helps iden­tify each owner’s spe­cific share.

A co-owner of a jointly owned prop­erty is gen­er­ally free to trans­fer his/her un­di­vided share in the prop­erty. How­ever, since one’s share is uniden­ti­fi­able and can­not be dis­tin­guished from the share of other co-own­ers, it may not be fea­si­ble to sell or pur­chase an in­di­vid­ual un­di­vided share in some cases. Upon par­ti­tion of such a prop­erty, the erst­while co-own­ers be­come ab­so­lute and sole own­ers of their spe­cific iden­ti­fi­able shares. As a re­sult, it

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