We are a family of 7 brothers and own a commercial property. The ground floor has been sold to someone, and we own the rest of the floors. When any of these other floors are sold, how will the proceeds be divided among the 7 brothers?
Answered on November 08, 2017
Depends on who owns the property and from whose income was the same acquired. If it was acquired from the joint family income or by the brothers jointly, then the sale proceeds can be shared by all brothers equally.
