Can me and my uncle sell our share in ancestral property?
Our ancentral property is worth Rs.1.50 Cr. Me (my father has expired. I am the son) and my one younger uncle is ready to sell the same. My elder uncle however is demanding Rs.3.50 Cr. which is not practical and possible as well as we have spoken to almost 12 builders.
Is there any solution wherein we (me and my younger uncle) sell our share as we both require money urgently. Please advice.
You need to file a suit for partition with respect to the said ancestral property. Once the suit is filed then you have to contest the Suit and thereafter respective shares shall be allotted and then you can sell the same. If Court comes to a conclusion that property cannot be partitioned by metes and bounds then Court can Order sale of the property.
Your elder uncle shall get the first right to purchase the property but if he refuses to buy the property, then he shall be under an obligation to provide you the amount of your share under the partition Act or the same be sold to third party.
Kindly contact us for any further details and action.
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- Builder still not given possession of shops what can i do now.
- Can daughter claim share in fathers property
- Municipal corp. asking to get approval from director of local body.
- Wife has filed false dowry case what can i do now.
- Banker gave me 4 cheques and has made an agreement now cheque bounced