Lien on property
Sashi Kumar
(Querist) 24 September 2015
This query is : Resolved
I own a property in Delhi. I want to give 33% of the sale proceeds to my brother in future when I sell any part of the property.
I do Not want to give him any decision making right or possession of the property to him.
What agreement, contract, Lien or deed I can give him Now to secure him 33% later when property is sold.
P. Venu
(Expert) 24 September 2015
Why and with whom you want to make the ageement?
Guest
(Expert) 24 September 2015
Quite uncertain condition, when you say, "as and when I sell any part o property."
Anyway, is there any specific reason for giving 33% of the sale proceeds of your wn property to your brother?
Kumar Doab
(Expert) 24 September 2015
Post full details and facts.
Sri Vijayan.A
(Expert) 24 September 2015
Case not presented properly.
Consult a lawyer in person
Dr J C Vashista
(Expert) 25 September 2015
I agree with experts, mention all details and reasons for the MOU/Agreement/Any other document to be executed.
"Click to talk" button if you feel getting some more opinion,advise and guidance.
Sashi Kumar
(Querist) 29 September 2015
The Agreement will be between me and my brother.
When I bought the property my brother helped me with 33% of the purchase price. We planned to sell it, but now I want to wait few years before selling it.
So I want to secure his 33% on sale of the property only with no right to use the property. Property is under my name only.
P. Venu
(Expert) 29 September 2015
From the facts disclosed, the property belongs to you and your borther; you are the joint owners.. As such, the action contemplated by you is meaningless in the eye of the law.
Kumar Doab
(Expert) 29 September 2015
You have posted that:"Property is under my name only. "
You may show all docs on record to an able lawyer and let your lawyer advise you after examining all record and inputs and draft and type of agreement contemplated by you.
