Settlements to sisterinlaw
srao
(Querist) 12 April 2012
This query is : Resolved
Sir,
We are 3 brothers and 1 sister out of which elder brother had passed away in 2007 leaving his wife(sisterinlaw)with out children.
My father & Mother also passed earlier to my brother death without a will.
My father had a Plot, Land and a House out of which Plot and Land sold out and shared 1/4th to my sister in law and rest 3/4 th shared by us(me, younger brother, and Sister)
Now the house(built in 200 Sq.Yards) is only left out for settlement where my sister in law and my younger brother were staying.
Pl advise how we can settle to my sister in law with out selling the House?
V R SHROFF
(Expert) 12 April 2012
Divide 1/4 each; say 450Sq. Ft each,
OR Settle with all 4, the portion, adjusting the area depending on front/ rare side & it's valuation, Keeping in view, ur sister in law is likely yo leave it after her death to one or all of you brothers who will take care of her,
Also can offer money to who want to release their right, keeping any one as sole owner.
or wait & watch later on, if no urgency .
Partition it later.
Deepak Nair
(Expert) 12 April 2012
Since only two of you are living in the house, it is advisable to transfer your share to those two.
You and your sister can release your share on the house by way of a deed of relinquishment or you can offer them to sell your share to those two.
ajay sethi
(Expert) 12 April 2012
agree with deepak nair/mr shorff
M/s. Y-not legal services
(Expert) 12 April 2012
since the extent of the property is very low.. so my advice also just make any money settlement with your sister in law..
-tom-
srao
(Querist) 18 April 2012
My sister in law has brought a party for buying the house and asking to settle her share at that rate which is very high.
She is threating us saying that she will go to court of law.
In such case what will be the implications?
Is there is any time frame that we need to settle her?
Pl advise options for settlement?
