Legal Question in Intellectual Property in India

buy land me and my brother 7 marla. And take one registration certificate.but in RC mentioned one half land my and one half my brother. 70% money paid by brother and 30% paid by me. 20% money i take as loan from brother but not in written. After 10 year brother want land aginest 20% money(which is not paid by me). So in this case brother has right on land.


Asked on 3/17/14, 1:52 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

17.03.2014

Dear Sir / Madam,

If the purchase consideration of the land is Rs. 1,00,000/- your brother paid Rs. 70,000/- and you paid Rs. 30,000/- of which Rs. 20,000/- you took as a loan from your brother for which there is no document in writing. Assuming you have not repaid the loan amount you have taken from your brother, your own investment in the purchase of the land is only Rs. 10,000/- If you have repaid the loan, your own investment in the purchase of the land is Rs. 30,000/- Now, after 10 years, if your brother desires to have the land in his sole name, he will have to either pay you off 10% of the prevailing market price of the land, if you had not repaid his loan, or 30% of the existing market price of the land, if you had repaid his loan. Legally, since the ownership of the land is joint, it will be deemed as 50% ownership to your brother and 50% ownership to you, unless your brother is able to establish and prove otherwise.

Regards,

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Answered on 3/17/14, 3:06 am


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