You can sell your undivided share in the property to a third person if the said buyer is willing to buy it and get it partitioned at a later date. Your cousin’s consent is not required to sell your share of property.
How do you divide undivided land?
A partition deed is executed by co-owners In case a partition is by mutual consent, a partition deed is executed by the co-owners. The partition deed is required to be registered at the office of the sub-registrar of the place where the property is situated as in case of any other registration.
What is undivided ownership?
“Undivided” means that the ownership interest in the common elements cannot be subdivided to each unit owner. A unit owner, for example, cannot claim that a certain tree is his because he owns 1.2% of the common elements so he wants the tree.
How to divide an undivided interest in property?
You can offer to sell your 1/3 interest in the land to your cousins or buy their 2/3 interest in the land. If that is not an option, real property owned by undivided interest owners may be partitioned by agreement or by judicial decree.
What to do if you no longer want to be an undivided interest owner?
If you no longer want to be an undivided interest owner, there are several alternatives. You can offer to sell your 1/3 interest in the land to your cousins or buy their 2/3 interest in the land. If that is not an option, real property owned by undivided interest owners may be partitioned by agreement or by judicial decree.
How can I sell my undivided interest in land?
Sell Your Interest or Purchase the Undivided Interests Owned by Others. If you no longer want to be an undivided interest owner, there are several alternatives. You can offer to sell your 1/3 interest in the land to your cousins or buy their 2/3 interest in the land.
What does it mean to own an undivided property?
→ Learn More. An undivided property is not just a property that has not been subdivided into different sections. It is usually one piece of property, owned by more than one person, in which all owners have an undivided interest.
