Section 418
Joint Property May Be Sold By Way Of Sale
(1) A joint property
may be sold and transferred with the consent of all of its owners.
(2) Even though all the owners do not agree to transfer the
joint property pursuant to sub-section (1), any owner may transfer
the property of his or her right or portion.
(3) If, in making a transfer pursuant to sub-section (1), it is
technically not possible to separate the right or portion of any
owner from the joint property, and another owner intends to acquire
such property, that other owner shall be entitled to obtain it at the
price mutually agreed upon between the owners.
(4) If more than one owner intend to acquire the joint
property, the owner who agrees to pay the highest price shall be
entitled to obtain such property.
(5) Notwithstanding anything contained in sub-section (3),
if the other owners do not intend to acquire the right or portion of
any owner and it is not possible technically to separate such
property and, the whole of the joint property shall be sold and the
proceeds of sale shall be divided between the owners according to
their respective right or portion in that property.
(6) If any person transfers the joint property in
contravention of sub-section (1), only the transfer of the extent of
his or her right or portion in such property shall be valid, and the
concerned person shall be entitled to get return of the property
transferred in excess of the right or portion of the transferor.