Query on property rights of legal heirs
N K GUPTA
(Querist) 07 July 2013
This query is : Resolved
We are 6 brother-sisters. My mother jointly with one of my sisters booked for a property with one developer in ghaziabad. Both have equal shares in the said property. A plot number for the said property has been allotted. As per payment plan, three installments were paid to the developer by my mother and sister equally towards their share (50%:50%). After that my mother expired. Thereafter, the payment which was due to the developer is being paid by my father (instead of my mother) towards the share of my mother and my sister towards her share. The property is still under development and 35% of the plot cost is yet to be paid to the builder as and when payment notice is issued by the developer. Now we all brother and sisters want to amicably settle the distribution. But my sister which was joint applicant with my mother in the said property wants to own the plot and she is ready to pay the share of the amount paid till date. As the property has been neither developed nor registered till date, shall we accept her offer or what is the other way out to amicably settle the distribution amongst all the legal heirs as per law.
Devajyoti Barman
(Expert) 07 July 2013
If your sister wish to buy the half share left then you can agree in lieu agree amount.
Else you have to divide among yourselves the half share belonging to your mother.
Devajyoti Barman
(Expert) 07 July 2013
If your sister wish to buy the half share left then you can agree in lieu agree amount.
Else you have to divide among yourselves the half share belonging to your mother.
N K GUPTA
(Querist) 07 July 2013
Thank you sir for the reply.
Kindly clarify the way of reaching the settlement amount of each legal heir.
What will be the basis of the total consideration amount of my mother's share? (i.e. The total payment made by her till date or the current property price)
What about the payment made to the developer after the death of my mother?
Devajyoti Barman
(Expert) 07 July 2013
The payment made by father should be left to him to decide.
You are concerned only about the payments made by your mother.
Rajendra K Goyal
(Expert) 07 July 2013
Including your father there are 7 heirs of your mother's 50% share. It is your family settlement how you arrive at the price of plot, present market value or the amount paid. On present market value (65% paid hence taken as present market value - amount paid by your father) may be distributed in 7 portions. Your father can get one share + amount paid by him.
However it depends upon your family members how the settlement is reached.
