How to transfer part of property...

ksr prasad (Querist) 29 November 2012 This query is : Resolved
we, two brothers, will get the immovable through a WILL executed by our paternal grand mother. As per the WILL, the property will be on my mother's name with only limited rights of enjoying the premises and with no selling rights. She is hale and healthy as on date. After her, the property will be on our names with full rights of enjoyment, sale etc.
Now, we three, would like to promise on paper a certain amount of cash to my sister from the proceeds of the immovable property when we sell it or go for development. What is the legal method for this ? Is it enough if we three sign such a paper ? we, two brothers are married and have major children.Kindly clarify.

Thanks for your prompt answer. In addition to what is written above, I would like to submit the following for your kind consideration and advice.
My mother being 82 year old, she would like to see a kind of commitment on paper from her sons that they would part with some share in the immovable property in terms of cash to be given to my sister at a later date. We are agreeable for such a commitment to saisfy my mother.Can we execute any document for a fixed amount of cash without specifying any dead line for time ?

Follow Query

Report Abuse

ajay sethi (Expert) 29 November 2012
dont make any commitment in writing now . when you sell the property give your sister her share

Raj Kumar Makkad (Expert) 29 November 2012
As your mother is requiring and you oth brothers are ready then there is no problem. Get your commitment drafted on a duly sworn affidavit.