Joint ownership over: Former property holder still uses address on Aadhaar and bank-should you worry? Experts explain
New Delhi, Oct. 1 -- Suppose two brothers jointly own a residential property, with each holding a 50% share. Later, one brother buys the other brother's 50% share, becoming the sole owner of the property. The former co-owner then moves out of the residence.
However, he continues to use the property's address on his Aadhaar card and maintains bank accounts with the same address. Does this create any legal risk for the sole owner? Can the former co-owner's Aadhaar or bank records affect the ownership of the property? Here's what experts have to say.
"Once a co-owner has validly transferred his share in an immovable property through a duly executed and registered instrument, the fact that he continues to use the property's address on Aadha...
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