LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

sanjay (nil)     18 June 2012

Settlement in mutual divorce

My wife has asked for a divorce by mutual understanding, after a span of about 12 years.During our marriage, we had purchased a flat in Mumbai by contributing equal amounts (Agreement value of the said flat being about 4.5 lacs.)My wife, at the time of seeking divorce mutually,has demanded half of the flat value from me. At what value should the settlement be made-cost price(as per the agreement),current market price, or the current value as per the Ready Reckoner?I do not have any other property anywhere.She is a medical professional and has a very good earning as compared to me.



Learning

 1 Replies

sridhar pasumarthy (ADVOCATE)     18 June 2012

If the property stands in the name of both of you, then she is entitled to 1/2 share in the said property.  So, she is entitled to 1/2 of the existing market value of the property.  As you said that divorce is on mutual consent, you can negotiate the amount with your wife


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register