Legal Question in Real Estate Law in India
My father and my uncle own a House and they both have equal (50 50) ownership of the house, now my father wants to sell the house, but my uncle doesn't agree with that. the market value of the house in india is 1 crore (10000000), so is it possible that my father can look for a buyer who is ready to buy my father's share for half the price (5000000 ) and handover the power of attorney of his 50 % to the buyer, so now the buyer and my uncle own the house in equal (50 50) share.
1 Answer from Attorneys
20.09.2013
Dear Sir / Madam,
In case of buying or selling of property, it is always advisable that the Owner (Seller) directly deals with the proposed Owner (Purchaser) and not through Power of Attorneys (POAs). Since it is one house in joint names, consent of both the Owners is required to sell it. It may first be partitioned into two separate individual apartments / flats, so that your father owns one apartment and your uncle owns the other apartment. Your father can thereafter sell his apartment to a prospective buyer.
Regards,
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