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How to sell an ancestral property? – Property Hotline
Posted
June 22, 2016
Views
15,720
Likes
104
Comments
5
Engagement
0.69%
June 22, 2016
15,720
104
5
0.69%
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4:27
3:35Now PlayingBe Un Confused
Expert: Uday Wavikar, VP, Consumer Court Bar Association, Maharashtra and Goa
Question: I have a residential property in the name of our father in Hyderabad. My father passed away 2 years ago and there is no will. We are two brothers. We plan to sell this property and have found 2 buyers. Both the buyers are family friends. The buyers are refusing to see the papers and wish to proceed with the sale. They only want to conduct the transaction and have our signature on the property papers in the sub-registrar's office. Is it right to sell the property in this manner? Are there any other formalities we should follow?
Answer: You or the buyer to take step to bring legal heir on record and thereafter, can sell the property to the prospective buyers. Meanwhile, if the buyers are in hurry to complete the transaction, you may issue irrevocable power of Attorney as legal heir to the buyers. Execute agreement for sale with a clause regarding the title and transfer details and the steps to be taken for the same.
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