Bid of co-sharer to have preference
Full Text
Where the property sold is a share of undivided immovable property and two or more persons, of whom one is a co-sharer, respectively bid the same sum for such property or for any lot, the bid shall be deemed to be the bid of the co-sharer.
Plain English Summary
Statutory right of pre-emption in execution sales: accords absolute preference to the bid of an existing co-sharer over an outside bidder in cases of equal bids for an undivided immovable property share.
Key Legal Elements
- Undivided Immovable Property: Applicable to joint family ancestral homes or co-owned land parcels.
- Equal Bid Trigger: Applies when co-sharer matches the highest outside bid.
- Statutory Pre-emption: Preserves property within co-owners and keeps strangers out.
Practical Note
Strategic Pre-emption for Co-sharers: A co-sharer attending the auction does not need to outbid a stranger. If the stranger bids ₹20 Lakhs, the co-sharer simply matches the bid of ₹20 Lakhs. By statutory mandate of Rule 88, the auctioneer must declare the co-sharer as the successful purchaser!
हिंदी पाठ
जहां बेची गई संपत्ति अविभक्त स्थावर संपत्ति (Undivided immovable property) का कोई अंश है और दो या अधिक व्यक्ति, जिनमें से एक सह-अंशधारी (Co-sharer) है, ऐसी संपत्ति या लाट के लिए क्रमशः एक समान बोली लगाते हैं, वहां वह बोली सह-अंशधारी की बोली समझी जाएगी।