ABIRLAL CHOWDHURY 11 December 2021

property issue

My father and his one brother has a joint plot. My father has made a house on that plot with his own and he allowed his brother to stay there. Now that brother is wanting half partition of that house along with every household thing.Now what is the solution?

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Anaita Vas 11 December 2021

Joint-ownership of property is a double edged sword. It can lead to legal and financial complications if the co-owners decide to split. Unlike a financial asset, it is not easy to split a built up property in a way that it satisfies all the affected parties. If the property is mortgaged, it adds another twist in the tale.

The difficulties involved often make the advantages of going in for a joint property—be it tax benefits, or the ease in transferring property to your progeny—pale in comparison.

However, there is a clearly laid-out legal mechanism in place to tackle such situations. All you have to do is to file a partition suit. The way your share gets calculated and divided depends on the type of the property in question.

Is your property self-acquired, inherited, HUF property or mortgaged property? Since rules and laws for different types of property varies.

Regards,

Anaita Vas