LAW BOOK

HT Estates - - HTESTATES - Su­nil Tyagi

My brother and I had jointly pur­chased a prop­erty five years back. My con­tri­bu­tion to­wards the con­sid­er­a­tion of the prop­erty was more than my brother. Now I want the prop­erty to be di­vided and would like to know how ex­actly the ex­tent of our in­di­vid­ual shares in the prop­erty will be be de­ter­mined?

—San­jay Singh In case of pur­chase of prop­erty by joint ( co- own­ers), share of each co- owner is specif­i­cally recorded in the ti­tle doc­u­ments (sale deed). In the ab­sence of sale deed spec­i­fy­ing the ex­tent of share of each co-owner, in­ter­est/ share of each co-owner shall be equiv­a­lent to the ex­tent of his/her con­tri­bu­tion to­wards pur­chas­ing the im­mov­able prop­erty. Since you have con­trib­uted more to­wards the prop­erty, your share will be pro­por­tion­ately more than your brother. How­ever, in the ab­sence of ev­i­dence show­ing ex­tent of con­tri­bu­tion by you, it may be pre­sumed that your brother and you have equal share/ in­ter­est in the prop­erty. My late mother has be­queathed her house to me for life and there­after to my child. How­ever, I wish to sell the house. Is sale of the house per­mit­ted?

—Smita Shah As per your late mother’s will, your in­ter­est in the house is cre­ated only for your lifetime and you have ac­quired a right to use and en­joy the house dur­ing your lifetime. You can­not sell the house to any per­son. Your child will in­herit the house after your demise. I am a NRI and own a farm­house in Chat­tarpur. I wish to gift the same to my rel­a­tive who is a for­eign na­tional? Am I al­lowed to do so?

—Ran­jit Sinha As per FEMA reg­u­la­tions an NRI/PIO (who has ac­quired a farm­house as per pro­vi­sions of FEMA) can gift an agri­cul­tural land/ a plan­ta­tion prop­erty/ a farm­house in In­dia only to a per­son who is a res­i­dent in In­dia and who is a cit­i­zen of the coun­try. Thus, you can­not gift your farm­house in In­dia, to a rel­a­tive who is a for­eign na­tional with­out ob­tain­ing prior writ­ten ap­proval of t he Re­serve Bank of In­dia. The au­thor is a se­nior part­ner at Zeus Law, a cor­po­rate com­mer­cial law firm. One of its ar­eas of spe­cial­i­sa­tions is real es­tate trans­ac­tional and lit­i­ga­tion work. If you have any queries, email us at ht­es­tates@hin­dus­tan­times.com or ht@zeus.firm.in

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