Mou for sale of huf property without consent of co-owners
Querist :
Anonymous
(Querist) 11 November 2011
This query is : Resolved
Recently my Grand Mother, Father and Uncle entered in a MOU to sale HUF property owned by their individual HUF,s jointly, but without the consent of Co-owners. Some how that deal can not me materialized completely (as buyer did not make the schedule payment) and MOU was terminated by them. Matter is in arbitration now.
Can arbitrator pass an award to sale the property on previous rates specially when there is no consent of Co-owners ?
Is that MOU is legal ? Will be obliged if I can get some rulings on this subject.
Devajyoti Barman
(Expert) 14 November 2011
How can the arbitrator allow to sell the property when the co owners do not consent?
Definitely the MOU is valid but only to the extent of their respective shares of the signatories and not that of other co owners.
