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samarth shenvi   15 June 2021

property partition of a area with building

I have a plot of 4800sqft and in that there is a building with built up area of 7000 sqft across ground plus 2 floors. So if I and my brother divide built up area of 7000sqft in 2 parts 4000sqft and 3000sqft and keep non built up or compound area as common. what will happen to amount distribution if sell the complete house for e.g. 2 crore after some years.


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 6 Replies

Sankaranarayanan (Advocate)     15 June 2021

Made any partition deed ? what is the ratio of UDS? without seeing the deed we can not give clarity on the ratio. so better to show the partition deed to local lawyer and get clarity on it

samarth shenvi   15 June 2021

we are discussing to make a partition deed hence want to understand how should we settle down so that we get equal share.

Sankaranarayanan (Advocate)     15 June 2021

Based on the ration you both can divide the share of profit 

G.L.N. Prasad (Retired employee.)     15 June 2021

This is the main problem and several buildings inherited by co-sharers (One building inherited by many co-sharers).  Every day, there is one query in this forum as one wants to retain his inherited portion, whereas others want to dispose it to outsiders.   This is the most critical part of the partition.   As there is more open space, let brothers sit for amicable compromise before friends and relatives about equal distribution.  If one wants to retain and the other brother wants to sell either he should sell that to the other brother or can accept vacant land specified in the settlement deed and sell it to those who wanted to retain the building.  The valuation has to be calculated on the market value both for building and vacant land separately.   Those who wish to sell their share of the building must give the building to the other who retains it, and take vacant land equal value vacant land.  There should be give and take policy with reasonable sacrifices to retain the roots and traditional inherited property.

P. Venu (Advocate)     15 June 2021

It is a matter of mutual agreement than any law or legal princiles.

T. Kalaiselvan, Advocate (Advocate)     16 June 2021

Since you and yor brother do not have any dispute in this regard, you both can amicably partition the property on mutually agreed conditions.

The conditions may be incorporated in the partition deed drawn for this purpose nd get it registered so that it can be enforced in law in case of any dispute or it can be a documentary evidence for future sharing of the sale consideration amount too when you both decide to sell the property jointly.

 


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