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Author Topic: Purchased a property by common money  (Read 1130 times)

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Offline durgabalaji343

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Purchased a property by common money
« on: July 04, 2015, 05:08:03 AM »
Dear Sir/Madam,

my father and my uncle ( own brother of my mother ) has been doing business ( small fancy shop ) since 33 years. With the money earned from the shop we constructed a house on top of my uncle's own house in the process of modification to house. This was done in roughly 25 years back with the cost of 7lakhs. 

Now my father want to come out of business and we are asking for the share in the constructed house. But those people ( family of my uncle ) are compensating the cost of property with my sisters marriage done in 2008 with the cost of roughly 6-7lakhs and reluctant to give share of us in the property.

My question is, " can we compare the marriage cost with the fixed asset?"


thanks in advance

Offline kphk

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Re: Purchased a property by common money
« Reply #1 on: July 04, 2015, 06:42:15 AM »
Who are all the males in your family ?

Offline durgabalaji343

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Re: Purchased a property by common money
« Reply #2 on: July 04, 2015, 08:42:16 PM »
My family :  My father and me. ( males )
My uncle family : my uncle and his son. ( males )

my father having two children, me and elder sister. My uncle having only one child.

Offline kphk

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Re: Purchased a property by common money
« Reply #3 on: July 05, 2015, 12:04:25 AM »
As far as I understand, ur uncle and ur father are not related by blood. By pooling in money for constructing the house, the two have become co-owners. Now tell me who is that sister who got married? And what is her elation with ur father or brother?

Offline durgabalaji343

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Re: Purchased a property by common money
« Reply #4 on: July 09, 2015, 09:38:21 PM »
1. My uncle is son of my father's own sister.
2. Sister is my elder sister married to some other person out of my family.
3. me and above mentioned sister are the only children for my parents.

they are comparing the amount as the construction and marriage both are used in common money only. in that manner they are compensating the amount.

Due to this we are losing the share in the construction as it is having good amount currently.

Offline kphk

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Re: Purchased a property by common money
« Reply #5 on: July 11, 2015, 10:42:47 AM »
Since the property is brought out of common funds your father has the right to ask for partitioning the house. He is entitled to half share in that property. Your uncle cannot take the defence that he bore the financial burden of getting your sister married. And even if he takes such a defence, after selling the house you can anyhow ask him to retain the proportional amount he spent for the marriage and give the rest to you hoping it would fetch considerably large amount.

Offline durgabalaji343

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Re: Purchased a property by common money
« Reply #6 on: July 12, 2015, 12:17:38 AM »
Thank you very much sir your help.

 

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