Payment of owelty in partition of immovable property

What is owelty:- A joint family may own various immovable properties with diversified location, nature & character, price, fertility and measurement. When there is a partition in the family, it may not be possible to divide such diversified property, equitably by metes and bounds, amongst the co-sharers / coparceners. Any attempt to do so may [...]

Maharashtra housing (regulation and development) Act, 2012.

The aforesaid Act was passed by the Maharashtra state assembly and was sent for Presidential assent in the year 2012. Finally the act got Presidential assent in February, 2014. The state Govt. intends to frame the necessary rules very soon and set up the authority by June, 2014 itself. After it’s implementation Maharashtra will become [...]

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Exchange of property (movable and immovable)

  Exchange of property is one of the various modes to transfer ownership rights in a property (both movable and immovable). Other popular and widely used modes for transfer of immovable property are Sale, Gift, Will etc. “Sale of immovable property” is defined under section 54 of “Transfer of Property Act, 1882” as “transfer of [...]