Here’s what you should know when you buy joint property in Pakistan

Here’s what you should know when you buy joint property in Pakistan

Owning property involves a lot of regulations and technicalities. In the case of joint properties, this is even more apparent as one owner might want to sell that property, but the others may not agree. Such cases can get quite complicated, so there are multiple laws in Pakistan governing the ownership and transfer of joint property. There are multiple mechanisms in place you should be aware of if you’re venturing into buying a property with co-buyers or want to sell your share of a joint property.

First of all, when multiple people are buying property together, a co-ownership agreement should be drafted and should be signed by all parties in the presence of an impartial referee. This should cover the issues related to the ownership, distribution, and management of the property. The price of the property, the date of the agreement, and the responsibilities of the co-owners should be clearly stated in the agreement so that there will be definite legal cover for any future misunderstandings or conflict.

Selling and transferring joint property has a lot more procedures than property owned by a single person. If one owner wants to sell the property, he/she cannot in any way sell the whole property unless the other owners are also involved in the transaction. Under Section 44 of the Property Act 1882, a co-owner can only sell the joint property to the extent of his/her own share. However, if a share in a common dwelling is being sold, the buyer will not be able to use that property for his/her personal use. This falls to the disadvantage of both the seller and the buyer. As joint property is commonly used as shared dwellings by joint families, this is a common problem with the transfer of jointly owned property in Pakistan.

In the case of Punjab, this problem has been brought under the legal umbrella through the Punjab Partition of Immovable Property Act 2012. This states that before a person sells their share in a joint property, all the co-owners have to partition that property in writing in the presence of an impartial referee. Anyone who wants to sell their share can only sell the part they have been given, preferably with the property being physically partitioned as well. The consent of all the co-owners is necessary under this law. The referee can also allow the combination of the shares of two or more co-owners with their written consent. The question of paying the referee according to the co-owners’ shares shall be decided by the court.

A common concern with joint property is the chance of one or more of the co-owners being dispossessed without their consent. The Specific Relief Act of 1877 deals with this concern and allows plaintiffs to sue the people dispossessing them from their shares illegally. Bringing this case to court involves bringing written proof of possession by the plaintiff. If this case is won, then the plaintiff can be restored to their previous state of possession.

In conclusion, according to legal experts, as long as you and your co-owners put everything down in writing and have clear agreements about the sharing and status of jointly owned property. They also recommended that joint property should be developed in such a way that it can easily be partitioned in the future if one owner wants to sell their share.

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Awami Villas Apartments

Awami Villas Apartments , Bahria Town Rawalpindi .

Awami Villas Apartments , Bahria Town Rawalpindi .

Total Covered area 795 square feet.

Ground Floor @ 14,00,000

First Floor @ 12,50,000

Second Floor @ 11 ,00,000

 

Al-Madina Real Estate & Builders

99 , Spring North Commercial , Bahria Town Phase 7 Rawalpindi.

Mohammad Imran Rasheed

Call / Sms / Viber / WhatsApp :

092 333 3690000

092 331 3690000

Email : info@bahriatown.asia

229860-0_229860_s350790-0_350790_s87866903_8_1000x700_awami-villa-sector-3-2nd-floor-premium-bahria-town-phase-8-islamabad-_rev004Awami-Villa1394468111396958826838177591387722413Awami-Villa-for-Sale-20140401002403Awami-Villa-Sector-31

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bahria town karachi current development status

Bahria Town Karachi current development status

Bahria Town Karachi current development status

Bahria Town Karachi current development status  including all precincts and other landmarks. Find the details in below list.

OVERVIEW OF MAIN PROJECTS DEVELOPMENT STATUS

Project NameDevelopment Status
Grand Jamia MasjidIn gray structure almost 70% complete
Dancing FountainCompleted and Operational.
International Theme parkAlmost Completed
36 holes PGA Standard Golf courseAlmost 15 holes completed
Rafi International Cricket StadiumUnder progress
Bahria ParadiseLeveling of land & under initial development stage
Bahria Farm housesUnder gray structure
London neurosciences hospitalAlmost Completed
Carnival areaCompleted
Day night safariCompleted
Sports Villas70% Completed
Bahria ApartmentsMost of are completed
Quaid / Iqbal VillaCompleted
Bahria homesPossession handed over
Bahria HeightsApartments possession is handed-over.

PRECINCTS WISE DEVELOPMENT STATUS

Bahria Town Karachi Phase 1 Precincts Development Status

Precinct NameDevelopment Status
Precinct 1All development work is completed
Precinct 2All development work including Iqbal Villas are completed.
Precinct 3All development work is completed and possession is handed over.
Precinct 4, 5, 6, 7, 8, 9, 10, 1170 % development is work completed and possession is handed over.
Precinct 12All development work is completed and possession is handed over.
Precinct 14, 15Almost 80% work is completed.
Precinct 15ARoads are under-construction.
Precinct 15BRoads between P15A and P15B are connected.
Precinct 16Development work is in progress.
Precinct 17, P18Development work in these precincts is in progress.
Precinct 19Apartments possession is handed-over.

Bahria Town Karachi Phase 2 Precincts Development Status

Precinct NameDevelopment Status
Precinct 20 (Golf City)Golf City development is in progress and Golf Course and Road network is almost completed.

Bahria Town Karachi Phase 3 Precincts Development Status

Precinct NameDevelopment Status
Precinct 21, 22, 23, 24, 25, 26Street sign boards are installed, roads are under-development and the main road is almost completed. One can easily reach these precincts.
Precinct 27Villas construction has been started, Plot cutting, roads, light poles are completed.
Precinct 28Dancing fountain is completed and is operational.
Precinct 29Cutting of bushes, leveling of precincts and boundary and footpath are in process of development.
Precinct 30Development is almost completed.
Precinct 31Villas development is in progress.

Bahria Town Karachi Sports city Precincts Development Status

Precinct NamePrecinct Status
Precinct 35Sports City Villas is almost completed. More than 200 Villas is already constructed.
Precinct 32, 33, 34, 35, 36, 37, 38, 39, 40Sports City Precincts land is under development. Jinnah Avenue development is in progress.

Bahria Town – Islamabad l Karachi l Rawalpidi l Lahore Latest Maps

 

Al Madina Estate & Builders

092 333 3690000

092 300 3690000

092 331 3690000 

info@almadinaestate.com

 

#bahriatownkarachi

 

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