JOINT OWNERSHIP OF PROPERTY

INTRODUCTION

Joint ownership, also known as Co-ownership, All co-owners are property owners. When property belongs to more than one person, this is called joint ownership. In the case of Coparcenary, male members and daughters share a common equal interest in ancestral property. Any co-owner can transfer their stake to a stranger or other co-owner, and the transferee will follow in the footsteps of the co-owner. The purchaser becomes a joint owner. A split allows you to change the share to sole ownership. The term co-owned includes all types of property such as co-leasing, co-leasing, co-ownership and Hindu Undivided Family (HUF) membership. If a party has shares in real estate, it means they are co-owners. Co-owners have the right to own, use and  dispose of property. Joint property can be held in legal forms such as a joint tenant. This is when two or more people have equal rights and obligations to rented or co-owned property until the death of the partner.  At this point, the owner’s share is passed to the survivor without discount. Another sharing option, joint tenancy, is when the parties are a married couple. In this case, each spouse has equal and undivided property. If the spouse dies, full ownership of the property automatically passes to the surviving spouse. Her two other forms of joint ownership, joint ownership and trust, also have distinct characteristics. Spouses can acquire joint property (marital property) during the marriage. This property, such as a rental apartment, legally belongs to both partners.

TYPES OF JOINT OWNERSHIP OF PROPERTY

Four types are there to own a property jointly. These include joint tenancy, tenancy in entirety, tenancy in common and coparcenary.

JOINT TENANCY

 A co-tenant exists when the deed of title to the property is based on the concept of unity by giving equal interest to the property. The essential determinants of unity in this form of joint ownership are unity of property, unity of time, unity of interests, and unity of property. This provision is based on the rights of surviving dependents, so if a co-owner dies, their co-ownership automatically passes to the surviving owner. Note that a joint tenancy is established by a will or certificate, not intestacy[1]. It is also worth noting that joint tenures can be transferred without problems. Section 44 of the Transfer of Ownership Act of 1882 deals with the transfer of shares by one of the co-owners, and the person who benefits from the transfer of ownership gets the same legal interest in the property as the previous owner. It says it will.

TENANCY IN ENTIRETY

The agreement between married co-owners of a property is known as joint tenancy, and this kind of joint ownership is a variation of that arrangement. This kind of co-ownership only exists between couples, and it consists of four unity and survivorship models. If the couples mutually decide to amend the arrangement and file for divorce, the joint ownership will be altered. Spouses who are bound by tenancy in full are still not permitted to sell or/and transfer their ownership of the profit to a third party without the consent of both spouses.

In Konchunju Nair v. Koshy Alexander, It was decided that a co-owner is allowed to build a home on the property if he so chooses. If a co-ownership of property is divided, the co-owner may demand that his half of the property be allocated. Normally, the court would recognize such an equitable entitlement[2].

TENANCY IN COMMON

The agreement between married co-owners of a property is known as joint tenancy, and this kind of joint ownership is a variation of that arrangement. This kind of co-ownership only exists between couples, and it consists of four unity and survivorship models. If the couples mutually decide to amend the arrangement and file for divorce, the joint ownership will be altered. Spouses who are bound by tenancy in full are still not permitted to sell or/and transfer their ownership of the profit to a third party without the consent of both spouses.

JIONT OWNERSHIP UNDER THE HINDU LAW: COPARCENARY

Members of Hindu Undivided Families are granted coparcenary ownership rights under the Hindu Succession Act of 1956. (HUFs). An unborn kid is given an equal stake in a HUF property under this idea, which is akin to joint tenancy. A coparcener becomes a stakeholder of the assets shared by the HUF after his birth. A member’s undivided portion of the property transfers to his heirs upon his death rather than being split among the other coparceners because the coparcenary idea does not function on survivorship. A HUF co-owner may also sell his interest in the shared family property.

CONCLUSION

The transfer of property by a co-owner and the rights of the transferee are covered under Section 44 of the Transfer of Property Act, 1882. Each joint or co-owner has a property interest in the entire property, as defined by the Act. In conclusion, all co-owners concerned must provide their consent to any sale. On the other hand, if there are explicit conditions in the agreement that provide co-owners individual rights to the particular parts/portions of the property, a joint owner can sell his portion to anyone he wishes.

In the case of Durga v. Debidas, The family’s members were dispersed around the house and lived in various locations. For the purpose of attending the Kali Pooja, they remained in the village home. The home was furthermore utilized for paddy collection. The court ruled that using the property erratically for a brief period of time won’t convert it into a living place. On the land in question for the lawsuit, there must be an ancestral home. The family must not have left the house unattended.

Lalitha James and others v. Ajit Kumar and others, The Madhya Pradesh High Court highlighted that what matters is the strength of the plaintiff’s claim, not the defendant’s lack of title. A buyer of an undivided component of property from a co-owner is not entitled to ownership of any specific piece of the joint property. He would only be entitled to joint ownership, not exclusive possession of any specific portion of the joint property. The co-owner himself is not in a better position than the transferee. This idea is sanctioned under Section 44. Only the combined estate will be subject to enforcement by the Respondents. It is not possible to approve the sale of the exclusive property. As a result, the appeal was granted.


[1] https://timesproperty.com/news/post/joint-ownership-blid2468

[2] https://www.legalserviceindia.com/article/l125-Transfer-of-Property-by-Co-Owner.html

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