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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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3 Replies

Comments

    09 May 12 at 11:50 AM
By: AnthonyDavis

Good article on real estate. Pretty much sums up the blueprint for success no matter what the venture. Feel very inspired after reading what you write. Australian Finance

    25 Apr 12 at 07:31 AM
By: Dr Paul Perito

It's really a long process to exit in a joint property especially if co-owners does not want to. Dr. Paul Perito

    22 Mar 12 at 12:26 PM
By: Aaron

Is this valid for all States? Christian Search Engine



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