Partition of Property
This is test short description
NRI Lawyers offers one of the best platforms for advice and representation for cases where there is shared ownership of property. In such cases, a legal partition of property is the only solution for sorting out claim issues. If an individual is the co-owner with any other person, it can create problems.
This can get further complicated if an NRI happens to find himself in dispute with the person who currently has possession – most likely the individual in possession would prefer to get the authority to control, manage or even sell the relevant share in the land which is detrimental to the interest of the shareholder living overseas.
In such situations, the filing of a Suit after seeking appropriate legal advice is the best legal remedy available for an NRI. All parties naturally seek the best legal advice. However, a deep understanding and review of documents with possible site visits hold utmost importance for effective implementation. These are facilities that our team of experts provides to all clients.
Understanding Partition of Property
- Partition of the joint land is a mandatory step for effective management and control of your ownership.
- It is basically a process whereby shared ownership of property is so handled that the property then gets divided into separate portions.
- Each person then gets a share as per his legal entitlement.
- Post the division, every portion gets a new title and each ‘owner’ then would be giving up his share in the other portions.
- That means that there would be complete autonomy to operate in the partitioned share.
- It also means that it restrains interference by anybody else in your share.
- This could be ancestral land, a house or a commercial establishment that has been co-inherited along with siblings and other co-owners.
A co owner’s share is inheritable and transferable. The share of investment of each co-owner and the undivided share in right, interest, and the title should be clearly and explicitly identified. This helps avoid problems in transfer, alienation, inheritance and taxation. A Proper legal advice given at the right time can help save a lot of situations where there is shared ownership of property.
Types of Partition
In all situation of shared ownership of property, there could be two kinds of partition-contested or uncontested.
- In a contested scenario, when all parties do not agree, a legal suit has to be filed in the courts. The shares of the people involved would depend on the particular share for each one as mentioned in their purchase or inheritance document.
- In an uncontested situation, all co-owners mutually agree to the solution.
- The deed should be executed on a stamp paper and drafted in a clear and unambiguous manner.
- It creates new owners and needs to be registered at the office of the sub-registrar to give it a legal and binding effect.
- The deed should in particular mention the date from which the entire procedure is effective.
- The names of the parties and their respective shares should be specifically mentioned.
Partition of property is also subject to the laws of inheritance applicable to a particular person in a particular state. Different laws can apply and vary from state to state.
In certain urban commercial or residential properties where individual saleable units cannot be carved out or partitioned, the court orders a sale of the property. After the sale, the proceeds are divided according to the share of each person. Once that is done, each owner is free to take whatever decision he wants to about his individual share.
For NRIs, it is possible to file and be suitably represented in a suit with the help of a legal representative even without being actually present in India. We, at NRI Lawyers, offer our clients the best legal advice for partition of property and all such services. Our experience, both in years and number of clients, puts us in an undeniably advanced position to facilitate such procedures for all our patrons.