Property advice- experts- how to divided property in family
Kumaran N
(Querist) 06 January 2018
This query is : Resolved
Hello Professional and Experts
Happy New Year to all,
I am seeking your professional advice which will help to take right decisions, Writing on behalf on my father -in-law
My father-in-law owns a property in bangalore consisting Ground floor, first floor and seconds floor. with his Elder Son, and 2 daughters, second daughter is my wife.
He had planned to divide the property with among his children, son and 2 daughters, equally, - Son 2nd floor, Daughters 1, 1st floor and Daughter 2 ground floor.
His is concern here, both daughters had contributed 80% of the construction the property cost, son had never contributed anything, again does son need to compensate the cost to his sisters, or he is eligible without paying anything on the share.
If we need to divide the property equally, GIFT DEED will do or Partition Deed will do, or a WILL from the father will support.
We appreciate your expert advise, please feel free to ask if you need any more information, will be glad to help. Thank you
Kumaran Neelakantan
Vijay Raj Mahajan
(Expert) 06 January 2018
This entirely on the owner of the property how he wants to go about with it. If he transfer the Property during his lifetime amongst all his children either by way of gift deeds separately made in favor of each for the share as described or single partition deed dividing the property amongst all after his lifetime through Will, disputes always remain on one or the other issue.
The son who hasn't contributed any money should be first asked to arrange for his share that will be distributed amongst all others in the same proportions as they contributed in making the property.
If the son is not ready to give his share of contribution for making the property, he shouldn't be given any share in the property.
A Will can be made where the father can put condition that unless the son pay the two daughters his share in making the property he will not be getting any share in the property. The whole property will be distributed between both daughters only in equal shares.
Such strict condition will make the son to come forward for compromise and give his part of contribution for making of the house property.
kavksatyanarayana
(Expert) 06 January 2018
Your father-in-law has got property. for this property, his daughters contributed 80% but the son not contributed. Is there any written agreement/receipt/voucher for the daughter's contribution? contribution by son is not necessary as your fatherinlaw has right to do as he wishes. and your fatherinlaw may execute a Will as he wishes. In the Will he may divide the property as his wish ( i.e. the share of each child may not be equal and it may be no share be given). or he can execute Gift deed to each one allocating share as his wish.
adv. rajeev ( rajoo )
(Expert) 05 February 2018
If the property is self acquired property of your father in law, he can give it any body. If he wants give it to only daughters who have contributed then he can execute the regd., rights relinquish deed in the name of daughters.
