can any one purchase the property in part of the building in UP

Q: can any one purchase the property in part of the building in UP like first floor of the building or one villa can be purchased by two person seperatly i.e, ground floor by one party and second floor by second party.
what will be the ragistraion charge .

Bharat, Mohali

29th November 2017

Legal in Karamchary Nagar, Bareilly

property ownership

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Yes, you can buy but it should be clearly defined exactly in the sale deed the portion of shares of each owner.
Both the co-owners can claim the tax benefits applicable to the property transaction. But at the same time, I also agreed with Giri. You can take the advice of a legal expert in this matter for future litigation issues.

Aiza, Greater Noida

4th December 2017

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Hi Bharat,
I think you should take the help of a legal expert in this matter. I am sure he will guide you in a proper way. You can also visit the registrar office and talk with the expert in this matter. Thanks

Giri, Noida

4th December 2017

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Yes, you can. In case a property is jointly owned by two or more persons, the fact should be specifically mentioned in the sale deed. A property can be acquired by two or more persons jointly by pooling in their resources. Unless there is a contract to the contrary between the parties, co-owners will have a share in the property that is proportionate to the funds contributed by them to buy it. The names of the co-owners, along with their respective shares of joint ownership or the ownership of the property should be clearly and specifically mentioned. As such, in case of any income from the property or any gains received on the transfer of such a property, the returns can be divided into the respective proportions of ownership.

Surbhi, Ghaziabad

4th December 2017

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