Sharing the property
Sukumar
(Querist) 25 June 2015
This query is : Resolved
We received a property from our uncle through a will. There are three beneficiaries in the will. As per the will, the property is shared as follows between three of us.
Property is 30 x 60, ground floor and first floor constructed building. 1st & 2nd beneficiaries are given the ground floor by dividing it in to half to each (15 x 60) and for me the entire 1st floor (30 x 60). All 3 beneficiaries are willing to sell this property. However, the buyers are valuing only the land since the building is old and has to be demolished and they pay for 30 x 60 only. Now, how to divide the proceeds as per the will. I must get my share as per the will. Please advise.
Jeetender Gupta
(Expert) 25 June 2015
The constructed portions can't be in isolation but has to be seen as undivided share in land. Either it would be calculated as proportionate or in worst case one third for each. Better resolve mutually.
Anirudh
(Expert) 25 June 2015
The 30x60 undivided land is now being shared by three of you in the following proportion:
ground floor - 50%
first floor - 50%
The ground floor being owned by two persons, the 50% will be divided into 2. Therefore each owner in the ground floor will have 25% each.
Thus,
ground floor 1st person - 25%
ground floor 2nd person - 25%
First floor - 50%
Rajendra K Goyal
(Expert) 25 June 2015
Try to have amicable settlement with the help of relatives and common friends.
If not possible may proceed as suggested by the expert Anirudh.
Advocate Bhartesh goyal
(Expert) 25 June 2015
In old building cases, value of land is paid and nothing else so it will be better for you to have amicable settlement and divide the share of properly in the ratio of1/3 each.
P. Venu
(Expert) 25 June 2015
The property is already vested in the beneficiaries. The conditions of the Will no longer relevant in further transactions.
Kumar Doab
(Expert) 25 June 2015
Although the share has been determined in building, Resolve it amicably, and share the proceeds in equal proportions, as suggested by experts.
Sukumar
(Querist) 25 June 2015
Dear all, would like to thank you all for your time and the expert advises provided. Thanks again.
