Legal Question in Real Estate Law in India
if a community property is sold and proceeds collected by one or two of the share holders .. using a GPA of other share holder. can other share holder challenge if he has not recived the proceeds?
Asked on 6/28/11, 10:42 am
2 Answers from Attorneys
Vishwa Arya
Arya & Co.
your other question in detail has been answered. Being a principal you can always ask for accounts and its recovery from your agent but within three years of cause of action.
Answered on 6/28/11, 6:11 pm
Shrichand Nahar
S.V.Nahar, Advocate
What is meant by community property?
If any amount is received/collected by an attorney for and on behalf of principal, then attorney is accountable therefor and is obliged to pay such amounts to the principal.
Answered on 6/28/11, 10:06 pm
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