Can a person claim for the property sold by him , after 7 years?
Vikram
(Querist) 13 April 2012
This query is : Resolved
Hi Everyone,
My father and uncle were registered partners in business since 20 years both were shareholders for the same. In 2005 due to loss in business the partnership was dissolved between both of the them and the landproperty was purchased by my father , the land value at that time was calcuated and the half the money of land value was paid to the uncle. The deed to disolution and declaration for half the value of the land paid was registered in court in my uncle presence, signature and thumb impression were made in presence of Judge in court.
Also my father has sell/gifted the half of the property to my mother and the stamp duty for the same has been paid.
Now after 7 years, the property value has increased and the uncle is asking to pay the rise in property value to him.
Also he is denying that any dissolution or declartion was made by. My uncle wants to file civil case against the same.
Kindly help me to find whether any person can claim the money for the rise in property value after 7 years and also can deny that any documention was not done?
If any case is filed, we have all the registered documents regarding the same, can my uncle succeed in getting the rise in amount of property value or denying that the documents were not signed?
V R SHROFF
(Expert) 13 April 2012
not clear.
property purchased with whose money? on whose name??
Partnership firn regd?? dissolution regd??
who in possession of property??
Vikram
(Querist) 13 April 2012
Property purchased with both person money.
My Father was the 1st share holder,
Partner ship firm was registered in 1985,
Dissolution registered in 2005.
Currently my father is in possesion of the property.
Deepak Nair
(Expert) 13 April 2012
No. Once the proprty is sold on a price agreed by both the parties, the seller cannot demand a higher price after the completion of the sale proceedings.
Was the sale deed registered?? If it was not, then your father may end up paying more. Because your uncle will not come for registration unless the amount is paid.
If it is registered already, then there is nothing to worry.
SAINATH DEVALLA
(Expert) 13 April 2012
Dear Vikram,
Nobody will not start any business without registering the partnership firm.But what about the registration when the firm was dissolved.Clarify.
V R SHROFF
(Expert) 13 April 2012
POSSESSION IS MOST IMPORTANT, AND THAT IS WITH YOU. DO NOT PAY ANY MORE.
Devajyoti Barman
(Expert) 13 April 2012
Do not worry , if the partnership is duly dissolved and the assets were correctly divided amongst the partners then you have nothing to worry except some kind of harassment if your unless files any suit/
prabhakar singh
(Expert) 14 April 2012
yOU CAN NOT STOP SOME ONE FROM FILING A CASE,MAY BE FALSE ONE OR WITHOUT ANY LEGAL JUSTIFICATION.BUT CIRCUMSTANCES STATED BY YOU THAT ALL HAS GONE THROUGH COMPROMISE ENTERED IN COURT SEVEN YEARS AGO IS A FAVORABLE CIRCUMSTANCE FOR YOU.
