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How to sell joint property and pay for debts?


07-Mar-2023 (In Property Law)
Me and my husband are Hindus and are living separately, may apply for divorce soon. I am in india and he is working in Saudi Arabia . We purchased a residential plot of area 2000 sqft as a joint property for 50 lakh, two years before . We took a loan 20 lakh in the bank with the joint property land as surety (stamp value of land is 20 lakh) for the loan , to pay for my husband's accumulated debts prior to our marriage. The loan is in my name as prime applicant and my husband as co-applicant. As he was in saudi Arabia , I took initiative and arranged for the loan. He registered me as POA for his share of land, with permission only to get loan from bank but not for selling land. He paid emi for loan for first 2 month. As we started living separately he stopped paying emi. I am paying emi now. Now I wish to sell land and pay the loan. He is not interested in selling land and also not ready to pay my share and take the full land in his name. How can I solve this and get the loans paid?
Answers (1)

Answer #1
780 votes
As the property purchased jointly by you and your husband you hold a equal share i.e., 50% of share in the plot. However that 50% is undivided share. You can sell it either by way of getting a power of attorney from your husband or you may sell your share of undivided 50% in the said property. But, again finding a prospective purchaser to sell a undivided share in the said property is a strenuous task.

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