04 February 2008
What happens when one of the co-owner of a leased property refuses to renew the agreement while the other co-owners are for the renewal? There exists no partition deed between the co-owners. Will majority come into play?
05 February 2008
IF THERE IS NO LEASE DEED ,WHERE ANY CLAUSE IS PROVIDED FOR DISPUTE RESOLUTION AMONG CO OWNERS OF THE PROPERTY, THE LEASE RENEWAL ENTERED AND WETTED BY ALL REMAINING COOWNERS ,IS A VALID RENEWAL DOCUMENT AND CANNOT BE CHALLENGED BY THE DISSENTING COOWNERS. THIS IS THE POSITION IN COMMON LAW APPLICABLE TO SITUATIONS WHERE NO WRITTEN AGREEMENTS ARE ENTERED INTO BY COOWNERS. THE ONLY COURSE OPEN TO THE DISSENTING COOWNER IS TO ASK FOR PAYMENT FOR HIS PORTION OF THE COMMON PROPERTY AT MARKET VALUE WHEN THE PROPERTY IS INDIVISIBLE AND WHEN NO PARTITION DEED WAS ALREADY ENTERED INTO. R.V.RAO
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