Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 2] [Entire Act]

State of Bihar - Section

Section 72 in The Land Registration Act, 1876

72. Application to close separate account.

- Whenever any share in respect of which a separate account has been opened by the Collector under Section 10 or Section 11 of the said Act 11 of 1859, or under Section 70, shall no longer correspond with the character and extent of interest held in the estate by any one proprietor or manager or jointly by two or more proprietor or managers.Any proprietor or manager whose name is borne on the general register under this Act as proprietor or manager of any interest in the share in respect of which such separate account is open, may submit to the Collector a written application, setting out the circumstances under which such share no longer corresponds with the extent of interest held in the estate by any recorded proprietor or manager, or jointly by two or more recorded proprietors or managers, and specifying the manner in which such share has become broken up and distributed among the proprietors of the estate, and praying that the separate account standing open in respect of such share shall be closed, and, if he so desire, praying that another separate account be opened in respect of any other share or share which were wholly or partly included in the share in respect of which the previous separate account was open.IllustrationIn a certain estate separate accounts have been opened under Section 10 of Act 11 of 1859 for the 4 annas share of A, and also for the 5 annas share of B, the accounts of the remaining 7 annas share being kept jointly in the names of the remaining proprietors C, D and E.In course of time X has interested A's 4 annas share and also C's interest in the 7 annas share which amounted to 3 annas; X has also acquired by purchase 2 annas out of B's 5 annas share, so that the interest in the estate are now distributed as follows:-
X ... 9 annas.
B ... 3 annas.
D & E ... 4 annas.
X, if a recorded proprietor of the estate, may apply to the Collector to close the separate account which is open in respect of A's 4 annas share and also the separate account which is open in respect of B's 5 annas share, as neither of these shares corresponds with the extent of interest held by any one proprietor, or held jointly by two or more proprietors in the estate;and in the same application X may apply for the opening of a separate account in respect of the 9 annas share which he now holds.Any of the other proprietors might also make a similar application.