Legal Question in Real Estate Law in India

Hi,
I am Kiran. My grandfather owned agricultural land of 4 acres near chennai. But the land is in small bits. Now it has to be distributed by 8 members. All the menbers entered into agreement accepting for the equal share and distribute the amount equally when it is sold. But one of them is in dire need of money where remaining members are not accepting to sell. As it is nearly 10 bits, we are unable to distribute it equally. Please suggest me regarding how to go ahead.
Thanks,
Kiran

Asked on 10/15/13, 11:40 pm

4 Answers from Attorneys

Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

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Any one of the other shareholder could buy his share and pay him off. You may also drop a detailed query at [email protected]

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JSR/161013

Answered on 10/16/13, 12:00 am

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Shrichand Nahar S.V.Nahar, Advocate

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Other co-owners may purchase share of one of the co-owners want to sell his share.

Answered on 10/16/13, 12:03 am

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Fca Prashant Chavan Expert Edge LLP

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16.10.2013

Dear Sir / Madam,

Since the property is in 10 bits and there are 8 Owners, two bits of land can be sold to a third party and the sales proceeds can be equally distributed amongst the eight owners. If the area of the other eight bits of land is more or less the same, each of the Owner can be given one bit of land in his / her name.

Regards,

Answered on 10/16/13, 8:15 am

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