EXCLUSIVE: How to exit joint property?
SI Reporter / Mumbai 11 Nov 11 | 09:26 AM
Are you planning to sell your share in a joint property anytime soon but the co-owner does not wish to? Read this before you take your first step.
Legal experts say the only recourse for a co-owner wanting to get out of the joint-ownership is to file a partition suit.
Once the co-owners approach the courts, the preliminary hearings revolve around determining the share held by each party and the ownership right. Unless the agreement explicitly mentions the percentage-wise holding of each co-owner, all of them are considered as having equal rights. This is, however, easier said than done.
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