Asked April 13, 2017

Co-ownership of property

  • 1 Answer

Dear Advocate, My friend Rajkumar and myself Ramesh, we both were working together in IBM.We trust each other by that time and started searching for land and due to the land amount was higher than our budget. We bought Residential land for 20 lakhs from seller under the guidence of the sub registrar. Scheule of the property original documents with me & it was bought near Ponneri-Tamilnadu.(Coz of one of the known tamilnadu broker we bought the land very far away from our hometown) Rajkumar is from Karnataka-Bangalore Ramesh is from Andhra pradesh-Hyderabad Land is from Ponneri -Tamilnadu value of R.Land 50 Cents (50cents X 436 SQ.ft =21,800 SQ.ft) Problem now is he is afraid of his wife torture and he is now absconding from his family. His parents also died recently and his only living relations is his wife.As per him she is characterless and she is not interested to live with him, she wants only his money not him.( Already he took personal loan and managed to give her 12 Lakhs.) Without telling anyone he left office by last month march end and even i do not know where he is now.But i am sure that he will come back soon or will get in touch with me to register the land deed. He had planned to sell his part share for 10 lakhs to me. After he left, the wife found a xerox photocopy of the land documents in her home and called me & threatening as i know him and she is telling that you both bought the land from so and so seller with my husband and your name. I will put a case against it and take my husband share as well. if you don't tell where is my husband i will put case against you as well. Even Bank managers are called me saying that he left by cheating them for 22 Lakhs in totatl. I told very clearly that i do not know what you guys are talking about, i dont know what land you are talking. Do what ever you want i do not know i said. Is their any chance for me to sell the land without him, which we bought together.? Now my query is If he comes in contact with me soon or later , i can gohead and register as completely single owner for that property in my name ?? no issues will be raised by his wife & Banks ? In future if she/Banks finds that by taking EC of property then they will come to know that i registerted the land on very recent date then by any chance she/Banks can file a case against me saying that earlier Ramesh said on other day he don't know and now he registered secretly with Rajkumar?? Please suggest me an idea how to avoid her & Banks and then comeout of this land issues safely without issues. Thanks Ramesh

Answer 1

Sir, you must be sure if there is any documentary evidence to prove that the land was bought under co-ownership. In case the decision to buy the land was a personal understanding between your friend and yourself, you may proceed to register the land in your name alone without any difficulty. However, if the deed of sale specifies that the land was bought under co-ownership then it must be registered under both of your names.

Now since his wife was not a part of the sale deed she cannot interfere in matters related to the land. Therefore you should not be perplexed with your friend’s wife interfering in the matter of the land. As for the bank, if your friend has fraudulently absconded with the bank’s money then you cannot be held accountable for the same. 

Therefore you must try to get in touch with your friend and register the land in case the sale deed specifies both of your names however you cannot be held accountable for any fraud committed by your friend, as the sale deed and such fraudulent activity are not related events.

Agree Comment 0 Agrees over 3 years ago

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