Transfer of title to lrs in case of redemption/repurchase
Aditya Sood
(Querist) 14 May 2022
This query is : Resolved
My Grandfather had availed a hand loan from his friend in 1976 and executed a residential house sale deed in the name of his sons (equally) as security against written agreement to pay it back within 5 years. After lots of complexities and escalation, the matter was finally settled by the Supreme Court recently, in which a reasonable amount of interest was ordered to be repaid back with the principal to the other parties by our family. My dad had deposited some amount in 2014, some in 2019 as per interim orders, accumulating to 90% of the total ordered amount. Balance 10% has been paid by uncle recently. In the original suit and all other suits & Supreme Court SLP, there are 4 LRs, namely my father, uncle and 2 aunts. The contribution towards repayment & advocate fees has always been done by my dad and uncle both, in 9:1 ratio as above.
The execution has been filed with the local court, asking them to execute the sale deed in our favour. As I understand, this is a repurchase transaction, not inheritance and it would be grossly unfair if we get only 25% share in the property despite contributing 90% of the amount. The other LRs are not willing to reimburse my dad for the excess amount paid by him, he has also lost a huge amount of interest since the first deposit in 2014. The property is currently in possession of my uncle and his family (wholly). Our advocate told us that the sale deed would be executed equally in favour of 4 LRs and dad would have to file a subsequent suit for recovery of excess amount against the other LRs, that too after the sale deed is executed. This creates a lot of risk because once the sale deed is executed, the other LRs can sell their share immediately and take control of the money, leaving my dad in litigation forever.
I want to know is it possible to plead to the court to order the sale deed be executed in favour of those only who have paid the contribution according to their ratio (i.e. my dad and uncle in 9:1 ratio)? Any supporting cases would greatly help my cause.
Thanks in advance.
KISHAN DUTT KALASKAR
(Expert) 16 May 2022
Dear Sir,
Without seeing the relevant documents it is very difficult to advise you effectively. Better to share necessary documents with local advocate and get legal advise.
SHIRISH PAWAR, 7738990900
(Expert) 16 May 2022
Hello,
No, registration of sale deed in favour of those who paid amount in execution. The sale deed will be registered as per court order in the name of 4 lrs. Your advocate has rightly said that after registration of document you will have right to file suit for recovering the amount incurred by you.
krishna mohan
(Expert) 18 May 2022
One better option could be all beneficiaries out of court decree can have a mediator to amicably share cost and avoid litigation as it will cost time and resources to every one.
