My husband's grandfather wrote a will settling his individual house among his three sons. Since my father-in-law had already expired he willed it to my mother-in-law (mentioning her sons' names - ie my husband and my brother-in-law). That individual house was demolished and constructed as apartment complex and my mother-in-law got one apartment as her share (share here means 1/3 of the value of the property).
Now my mother-in-law wants to settle this apartment to her two sons (my husband and brother-in-law). My brother-in-law does not want to retain the apartment and hence agreed to provide release deed in return for the 50% value of the apartment by cash.
My questions are:
1. Since it is an ancestral property, is that like my mother-in-law and her two sons have equal rights over the apartment (33% each)? Or does she have sole ownership?
2. How should the documentation be? Settlement deed or release deed or both from the other parties?
Appreciate your valuable answers and advice.
