When purchasing a property, you can decide to either own it solely or invest in it as a co-owner. In single ownership, there is only one owner, which is yourself, as the name implies. Nevertheless, when it comes to co-ownership, a property can have several owners. These individuals could include your parents, siblings, spouse, or partner. If there is a disagreement among the co-owners, you might find it necessary to exclude one from the ownership. Is it actually achievable? If so, what steps should be taken? Housing News is seeking solutions in this manual.
What is property title deed?
A property title deed is a legal paper that contains ownership information of a property. This provides property owners with information about the property's size, location, etc. It is essential to consistently register your property with the government to have legal evidence in case of disputes. In India, a property title deed is required for transferring ownership from one party to another or multiple parties.
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Before deleting a co-owner's name from the property title, caution should be exercised. Furthermore, it is important to assess the simplest approach to accomplish this. Ultimately, any approach employed must adhere to legal regulations and ensure fairness for all parties included.
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Ans 1. This apart if you wish to remove her name as co-owner you will need to file a suit for declaration before the civil court and produce evidence therein to substantiate that payments were made entirely by you and hence her name must be deleted from the sale deed.
Ans 2. By means of partition one can have co-ownership changed into sole ownership. The expression co-owner is wide enough to include all kinds of ownership such as joint tenancy, Tenancy in common, Coparcenary, membership of undivided Hindu family, etc.
Ans 3. Co-ownership empowers people to own property and build equity while lowering the financial and logistical burdens of buying and owning a whole home. Joint ownership and TIC are options for people who are not married to each other. Owners have unique rights to the property depending on co-ownership type.
Ans 4. No person may sell the apartment without the other owner's permission if the property is held jointly by more than one person. If someone sells the apartment without getting the other partner's OK, you can pursue the following steps: a) file a lawsuit and take civil action to contest the sale.
Ans 5. Co-owner can sell only his share of the property, however, he cannot sell the entire land / property without the consent of the co-owners. Thus, even if there is a power of attorney involved, entire land cannot be sold without your consent.