Legal Advice

Family members are trying to buy my property

Question: My family members are trying to buy my property using preemption right at a lower cost in Kolkata, West Bengal . I have one bigha land with a pond and 1000 sq feet renovated house in North 24 parganas. I'm getting higher price from outside people. What should I do to get higher price of my property?

Advise

Your family members are attempting to purchase your property at a price below the current market value, which is not in your best interest. Therefore, you have the option to decline their offer to sell the property to them. The principle of preemption is not applicable when family members are looking to buy the property at a price lower than the market rate. In such a situation, you should consider selling the property to another individual who offers the best price.

The preemption right allows a property owner to acquire an adjacent property that has been sold to a third party through a purchase. In simpler terms, this right allows property owners to repurchase a neighboring property that has been previously sold to someone else.

If your family members are insisting on purchasing the land at a price below the current market rate, you have the option to file a civil suit for an injunction to prevent them from interfering with your property. Subsequently, you can sell the land to another buyer at a more favorable price.

Shivendra Pratap Singh

Advocate

High Court Lucknow

Property

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