Manager
[ Scorecard : 26]
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Posted On 04 April 2012 at 03:02
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We have a situation where property is under my GrandFather Name and 2 of his son's name out of 4 sons and Total Property count is 5.
Property 1: House worth 10 crores under name of eldest son
Property 2: Factory Land worth 3 crores under name of GrandFather : yougest son working on factory for last 25 years.
Property 3: Shop worth 1.2 crores : eldest son's son and 2nd eldest son doing business.
Property 4 : Factory Land under one son's name : Sold for 65Lakhs
Property 5 : Shop under 2eldest son's name : on rent.
Now GrandFather and First 2 sons died.
so how should be the distribution of wealth be done so as all get fair share in the name of law.
And legally what are the right for each family as per law.
Please advise.
Thanks
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practicing advocate
[ Scorecard : 32565]
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Posted On 04 April 2012 at 05:53
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If 2 sons are expired, after the death succession will open, so deceased legl heirs will be entittle for equal share in the deceased's properties.
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Buisnessman
[ Scorecard : 28]
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Posted On 04 April 2012 at 08:53
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Hello sir, My name is Surya age:27 s/o vinod occ-Buisness.My father's second marraige with my mother(Lalitha) who is already married with prakash and had a daughter name radha age 31 (Widow) and my mother is not in relation with prakash.And iam the son of vinod.In affection of love towards my mom. Mr.Vinod purchased a land of 500 sq.yrds for both radha and me.250yrds for Radha and 250yrds for me(surya).In the documents of registration my father made my mother as legal heir.Mentioned-"Lalitha w/o Vinod".Radha who is my sister sold the property of her share i.e 250 sq.yrds after her marraige when her husband was alive.When they sold the property i signed as witness.Now the problem is my father vinod is not with our family and my mother wants the relation with prakash (Ex husband).And she wants to give the share or adapt the property of my share(250 sq.yrds) to her widow daughter.As she is threatening me to leave the home if not she will be complaining to police that iam assaulting her.I want what belongs to me.Sir can u suggest me what to do to have my rights back to me.
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Advocate/Legal Consultant (bharat.law06@gmail.com)
[ Scorecard : 10324]
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Posted On 04 April 2012 at 09:32
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Dear Mr.Yogi,
If the property is joint family property/ancestral property, and not the self acquired property of the grandfather, then all sons alongwith grandfather formed a coparcenory. Once that is done all these properties will be considered a part of joint family properties in which during life of grandfather - he and his sons had a share of 1/5th each, on the death of grandfather - the son's share increased to 1/4th - on their death their children would take equally within their 1/4th. However there is a good chance that the sons in whose personal name properties are there - may claim their properties to be their seperate ones in which others don't have a right. This would be easy to rebut as they would have to prove their sources of income at the time of acquisition of property - and if they did not have enough - property would be considered joint one.
A lot more detail is required to answer more specifically
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Manager
[ Scorecard : 26]
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Posted On 04 April 2012 at 19:31
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thank you advocate rajeev but this is not what I am looking for. I am asking How should be the distribution of property done as Person who has house in his name worth 10 cr is refusing to give equal share on paper to all.
and person who has factory land worth 3 cr is saying this is mine and I am not going to give a single penny to anyone.
so In this situation what I want to find out is is this fair or these people are entilted to share the wealth amongst all by law and is this possible at all as noboby has got liquid cash so much to settle so how should this be done. please advise or give me your phone number so that I can call you.
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civil practice
[ Scorecard : 4157]
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Posted On 05 April 2012 at 15:39
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In my opinion the only way out is that you have to take stand that the properties in any family members' name are brough from the common business and common funds of all the business and that any single member in whose name property is standing cannot be the sole owner but he could be regarded as representative of all remaining members.By taking that stand you have to file suit for partition.
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