Priority of flat allocation to owners in bungalow redevelopment to new building
2 years ago
Bungalow plot, ancestral property has 2 resident owners (35/25 yrs saty) and 3 visiting owners. Residents(2) inherited 25% each, Visiting owners(3) inherited 16.66% each.
In new building owners should select flat as per priorities : 35 yrs stay then 25 yrs stay and then equally (lots?) by visiting owners.
Is it right? Or ALL OWNERS ARE EQUAL and if most want same flats, only solution is allocation by lots?
Is there any such case precedence?
Kindly advice...it's quest to know what's legally correct...Not very serious amongst us as of now but some are adamant a bit...
Best regards,
(Almost all owners are from 55~65 years range...I am the resident owner with maximum stay of 35 years in bungalow)
A.Dear Client,
In your case the best possible solution is that you all should sit together and decide the matter amicably and get that settlement documented on a stamp paper for future reference. The right on a property is dependent on what share is allocated to one and no how much time has been spent on/in the property.
In your case the best possible solution is that you all should sit together and decide the matter amicably and get that settlement documented on a stamp paper for future reference. The right on a property is dependent on what share is allocated to one and no how much time has been spent on/in the property.
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