K.T. Sankaran, J.

1. The petitioner was the owner of an extent of nine cents of land in Ernakulam Village in Kanayannur Taluk. There was an old residential building and a commercial building in the property. The petitioner decided to demolish those buildings and to construct a building for commercial as well as residential purposes. The petitioner executed Exts.P1 and P2 settlement deeds in favour of his wife and son respectively on 21.10.2004 by which the wife and son of the petitioner became fractional owners of the property. They jointly applied for a loan from the Housing Development Finance Corporation and Ext.P3 agreement dated 16.11.2004 was executed for getting a loan of `25 lakhs. They constructed a building consisting of three floors in the property. Even in Exts.P1 and P2 settlement deeds executed by the petitioner in favour of his wife and son respectively, it is mentioned that a building consisting of three floors was proposed to be constructed retaining the ownership of the first floor with the petitioner, ownership of the second floor with his wife and the ownership of the third floor with his son. The petitioner, his wife and son took additional loans from