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BISWAJIT ROY (ADVOCATE)     03 June 2011

Individual's property amalgamated for building plan

Mr A, B, C & D (All are brother) are joint owner of 4 Katha land and Mrs. X & Miss Y (Mother & unmarried daughter) are joint owner of land measuring 2 Katha.  

For the purpose of Building Plan Mr A, B, C & D and Mrs. X & Miss Y  amalgamated their individual land by a notarised agreement, resulting total land 6 Katha. and After getting Sanctioned Building plan over the said 6 Katha land in their Joint Name, they jointly constructed Parking + Three Sroried Building in and over the said plot of land. 

After completion of the building they jointly sold out two Flat, One Shop and Two Garage. 

Now, how they prepare their individual deed for Remaining 6 Flats in their separate names. 



Learning

 2 Replies

SACHIN AGARWAL (ADVOCATE)     05 June 2011

They can enter into an family settlement and may devide their respective portions (flats).

S. K. Vaidya (Employee)     06 June 2011

since the property is undivided all will have to sign agreement and receive consideration proportanately. Alternately they can make release deed of number of flats releasing in each other favour and derive individual title and afterwards each co-owner can seperately sell the flat coming to their share to the prospective purchaser


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