regarding ancestor property
M.A.Khan
(Querist) 13 October 2012
This query is : Resolved
We have ancestral property and we r 26 heirs to it we had filed a partition suit accordingly the property was auctioned today since it went for a lesser price can a heir purchase the same for the auctioned price before confirmation of the sale that is with in 30 days
Advocate Bhartesh goyal
(Expert) 14 October 2012
No,now you can not purchase the questioned property.you could participate at the time of bid however you can challenge the legality of auction.
prabhakar singh
(Expert) 14 October 2012
MR. GOYAL is right.
Auction is over only test of its' legality is left to be challenged.
Hemant Agarwal
(Expert) 14 October 2012
1. Auction Proceedings are open to the Public, which includes the parties to the Partition Suit. There is no lawful restriction to say that the Parties to the Partition Suit, cannot participate (as public) in the Auction proceedings.
2. Since the Auction Proceedings have been intitiated at the direction of the Court, in lieu of the "MUTUAL" Partition Suit, the parties to the Partition suit can participate in the Auction Proceedings and bid for the ancestral property .OR. purchase it from any other bidder.
Note: The classification of "Ancestral" property would be truncated out for ever once the property is purchased in a Public Auction, by any of the legal heirs and subsequently will mean "self-acquired" property.
3. Purchasing the "Marked proprerty for Auction", at is minimum reserve, even before the Auction proceedings would not be possible for the interested legal heir, since this issue is being deliberated via a Partition Suit.
4. Since the Auction Proceedings have been intitiated at the direction of the Court, in lieu of the "MUTUAL" Partition Suit,, the Auction Proceedings are by mutual consent of all the legal heirs and the legitimate Auction proceedings would not be challengable, since it would make the mutual partition suit as "infructuous".
Keep Smiling .... Hemant Agarwal
Ms.Nirmala P.Rao
(Expert) 14 October 2012
Dear Client,
You've preemptive rights of purchase from the other heirs, if your bid is more than the auction price.
Ms.Nirmala P.Rao
Legal, Expert
