In India, a person who has a life interest in a property can sell the property along with the ultimate beneficiary. However, the sale of such property requires the consent of both the life interest holder and the ultimate beneficiary .
The procedure for selling such a property is as follows:
- Obtain consent from both parties: The life interest holder and the ultimate beneficiary must both agree to sell the property. This agreement should be in writing and signed by both parties.
- Execute a sale deed: A sale deed is a legal document that transfers ownership of the property from the seller to the purchaser. The sale deed must be executed by both the life interest holder and the ultimate beneficiary.
- Register the sale deed: The sale deed must be registered with the Sub-Registrar’s office in your area.
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Sale of property owned by life interest owner - Can a person having life interest in a property sell the said property along with the ultimate beneficiary? If yes, what is the procedure to be adopted?
Jagjivan
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2023-08-10T20:40:53+00:00 2023-08-11T09:43:38+00:00Comment
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