Mou of family settlement
shyam lal
(Querist) 06 August 2023
This query is : Resolved
A share holder of undivided immmovable property as per MoU of family settlement unregistered wants to sell his share.
Note no where in the MoU it is stated a NOC or consent has to be obtained from orther share holders.
Can one sell his share under these conditions.
T. Kalaiselvan, Advocate
(Expert) 06 August 2023
The MOU in a family settlement is also a legally valid document in order to sell/alienate your share in the property which was allotted as a separate schedule of property.
You do not have to obtain NOC from other share holders.
shyam lal
(Querist) 07 August 2023
T. Kalaiselvan, Advocate thanks for the reply.next concerning question is since the partition /demarcation has not been done..one can still sell hid share ?
kavksatyanarayana
(Expert) 07 August 2023
Unless and until the property is partitioned, the co-sharer can only sell to the extent of his share, but he cannot sell any specific portion of the land in my view.
Isaac Gabriel
(Expert) 07 August 2023
specific mentioning about the undivided property is made among the partitioners no one can sell any piece of property.
T. Kalaiselvan, Advocate
(Expert) 07 August 2023
Family settlement itself is after arriving at a partition of properties mentioned thereto in the schedules in the family settlement deed.
If you ask that in the event of no division of property or any family settlement deed, can a shareholder sell his share of property?
If that is your question, then the answer is yes.
The shareholder can very well sell his undivided share in the property and the buyer will become one among the shareholders, after which he can file a suit for partition to claim his share in the proeprty with separate possession on the basis of the property divided by metes and bounds.
Advocate Bhartesh goyal
(Expert) 08 August 2023
Yes, shareholder of undivided property can sell his share but can not handover the possession to buyer, buyer after purchasing can claim partition and possession.
