Joint ownership of Plot approved by UP Govt for Hi-Tech Township
Dear advisor,
I and my mother-in-law want to buy a plot of 200 meter jointly in Vedic City Hi-Tech Township adjoing Greater Noida of Shree Infratech buider approved by UP govt and belongs at proposed Eastern Perpheral Highway in Bulandshahr(near noida ext). Land can be freehold after paying 12%of BSP after posesion which is tentatively 3 years from now.
How can we divide our land in future and what are the legal and safe procedure to be joint owner of plot on 50:50 ratio and avoid future disputes and legal hier issue?
As we are making booking with two person names, is this will be possible to get Registry of plot by two person names?
If there is way, so that two persons can buy joimtly plots in this region of UP, pls advise.
Warm regards,
Vivek Anand
9958310391
Asked 11 years ago in Property Law
Thanks Mr Sethi and Mr Davessar for your precious input. I agree the dispute issue.But if we dont do it we will loose to have a plot as our budget doesn't meet individually.
If both parties would prepare a will and agreement with term and condition of sale of property from either party in future and about their legal hiers for the same property, can they avoid future dispute?
Can we divide the land to make home of ours and how registry will be done in this case?
Pls advise.
Warm regards,
Vivek Anand
Asked 11 years ago
Again thanks Mr Sethi for your precious time.
As I understood, you are saying that I can make registry of plot to my mother-in-law name and she will assign 50% share in plot to my wife via will. Am I correct?
Or, Is this possible to make registry of plot with the name of mine and mother in law name (joint registry) and then in her will she will exclude my wife and keep his two sons only?
In this way also my wife and my children will be my legal heirs of my share 50%.
What would be better legal approach?
Asked 11 years ago
Thanks a ton experts..My doubts are clear for this moment.
Warm Regards
Vivek Anand
Asked 11 years ago
Thanks Mr Sai Kiran to answer.
So, after partition deed and marking two equal shares, in future can either party sell their share of plot or flat to some third party or the party who wants to sell his share need to take permission/consent of joint owner before sell his share. (Also consider apartment flat case in noida/Greater Noida flats offered by Ansal, AVJ, Supertech)
Warm regards,
Vivek Anand
Asked 11 years ago
Dear Experts,
Thanks for your valuable replies. Pls provide your precious advise-----Property is leasehold of UPSIDC plot. I have asked the concerned authority and they have no problem with joint registry. Now, In joint registry of a plot case, there are first original registry papers of seller who was the first allotee and second paper will be current joint registry and transfer papers. Now it may be a big question who will keep the original documents of papers as this will only one. If joint registry is executed by two friends, is there any provision or way avilable that both can have original papers. Or, how this can be settled in a manner that both can prove their rights with legal rights.
Warm regards,
Vivek Anand
Asked 11 years ago
So, does certified copy means xerox of the original set or is it an agreement of share of the property along with notrazation. And, does certified copy is valid to transfer ones share to some other party without original papers? If we incude partition deed in oroginal to both the party with certified copy, then is it valid for transfer the shares without any disputes...
Asked 11 years ago