Share
Hi, My father and I are the co-owners of a residential property, and my father has not paid any amount when we bought it in 2012. I had borrowed 4 lakhs from my sister in 2012, which she lent in good faith. The said property has went into redevelopment in 2015. While I aim to return the 4 lakhs to my sister now as I plan to sell my property in near future, she is demanding her share in tune with the market rate of the property. There was no agreement signed between us when she loaned the amount of 4 lakhs to me. How can I challenge her legally, especially when the property is not in her name and the amount of 4 lakhs was never loaned with any agreement, which I’m willing to pay back to her?
Question
Hi,
My father and I are the co-owners of a residential property, and my father has not paid any amount when we bought it in 2012. I had borrowed 4 lakhs from my sister in 2012, which she lent in good faith. The said property has went into redevelopment in 2015. While I aim to return the 4 lakhs to my sister now as I plan to sell my property in near future, she is demanding her share in tune with the market rate of the property. There was no agreement signed between us when she loaned the amount of 4 lakhs to me.
How can I challenge her legally, especially when the property is not in her name and the amount of 4 lakhs was never loaned with any agreement, which I’m willing to pay back to her?
Answer ( 1 )
If the property is in the name of your father and the father is still alive, she cannot claim any share however of the father is not alive, the share of each party will be calculated as per inheritance rules granted under the Act.