2 Answers
Dear client,
Yes, a co-owner of a residential apartment has the right, legally, to sell, gift or otherwise transfer their undivided share in that property.
A co-owner is allowed to transfer his or her own share without consent from the other co-owners, according to Section 44 of the Transfer of Property Act, 1882. After transfer, the transferee becomes a co-owner for the undivided share that was transferred. The transferor, however, cannot transfer any portion of the apartment unless the apartment has already been partitioned.
Unless there are contractual restrictions on a transfer such as a clause in a registered family settlement, co-ownership agreement or bylaw of a housing society are otherwise generally not required from the other co-owners, consent from the other co-owners is not required for a transfer.
Regarding a right of first refusal, there is no statutory requirement in India that a co-owner shall be required to offer to sell their share to the other co-owners of the property unless there is prior written agreement to that effect.
The sole exception to this occurs in cases of dwelling houses held by undivided families. Under Section 44, if the transferee is not a member of that undivided family, he may not be a co-owner of the whole of the property.
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Yes. A co-owner is legally entitled to sell, gift, or otherwise transfer his undivided share in a residential flat without partition, unless there is a contractual restriction. (Only the stake he has in deed)