Father and mother property

Susanta (Querist) 30 December 2020 This query is : Resolved
My Father died in the year 2011, Mother alive. My Father has own property and Mother has a own property. We are 3 brothers and 1 sister. All married. We all, mother, sister and all brothers had a discussion and want to do divide the property of father and mother. Also, we have settled a fix amount of money to our sister and she agreed. What is the best way to initiate the legal proceedings which will not create any legal issues in future. All family members are ready for any signature and legal documents. Please advise.

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Isaac Gabriel (Expert) 30 December 2020
You can make family sttlement with cosiderations agreed upon and registere it as document.

Advocate Bhartesh goyal (Expert) 30 December 2020
Yes, family settlement is the best solution for dividing properties belongs to your parents.

P. Venu (Expert) 31 December 2020
Father's property is jointly vested with all the children and the mother. As such it is possible for the mother to gift her her property and her share in the father's property in favour of all the children. Subsequently, the children could execute a partition deed among themselves, with the sister relinquishing her share.