Shared ownership of Property–Providing NRI their Rightful Share - Vakeelno1

 

Shared Ownership of Property–Providing NRI with their rightful share

 

As per Supreme Court, the partition may be partial or total. Partition could be partial as for the individuals from joint family or joint family property. When a distribution of assets happens, the assumption is about the total distribution. But where few members contend that the distribution was partial on members or property, the onus is on them to prove it.

Legal suits in property disputes are lengthy and take their direction of time. However, with right technique and strategy, we can assist expedite the process.

 

The following modes of partition are important:—

(1) Partition through Mere Declaration

(2) Partition by way of Will

(3) Conversion to any other religion

(4) Marriage under Special Marriage Act, 1954

(5) Partition by settlement

(6) Partition by way of Arbitration

(7) Partition using Father

(8) Partition with the help of Suit

It is far redundant for separation that the shared ownership of family property is divided by using all of it.

Segregation of your common land or property

It is a mandatory step for NRIs to effectively manage and control your property in India. It may be your ancestral land, your house or a commercial establishment that you co-inherited at the side of your siblings and other co-owners. Dividing is the handiest way to demarcate and have a separate shared ownership of your property.

An NRI does not preserve a specific piece of property as the sole owner but holds it as a share with others. Since they are joint properties any person including NRI residing outside India wants to sell it, the property can only be sold as share, and this cannot be sold on market value. As such the shared ownership of the property cannot be taken, and the NRI has a dispute with the individual who has ownership.

If we need to dispose of the property as per market value, then one of the best remedies is to file partition suit. Previously partition suit in Punjab takes a lot of time. However, Punjab government authorities have tried to reduce the litigation time and to make the appeal process short by transferring NRI’s partition in every district to District Revenue Officer for disposal in time bound manner. These suits are long ones, but are the only remedy available with NRI is to get shared ownership of the property with separate entrance.  Our legal expert lawyers will handle these cases in right earnest manner, and the progress in each case would be communicated to the clients.  We have the required experience, knowledge and proven track record of solving these cases through legal recourse.  Our skill can come in handy while solving such cases.

Learn More About: Transfer of Property