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How to divide property or pay co-owner

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  • How to divide property or pay co-owner

    India


    A property is been purchased by 3candidates today and after 5years any one candidate wants his investment back, whats the legal appropriate way of resolving and getting the money back. Pls rememeber the property cannot be sold. How much percentage of profit should be demanded from the other two candidates. I need a detail response in order to understand the whole process.

  • #2
    Re: How to divide property or pay co-owner

    I wish to inform you that in this case the agreement between all three parties will govern the rights of parties. However if there is no such agreement then the rights of parties are generally treated equally. Being equal owners the amount which an outgoing partner will get will be 1/3 of the total property's value. Now if the property cannot be sold then existing parties can buy by paying 1/3 of the value of property after deduction of loans and liabilities.

    AFF

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