settlement
sandeep
(Querist) 10 April 2010
This query is : Resolved
my father had died and he had only liquid assets that it deposits which have been transferred to my mather. my mother owns a house plus some deposits already. we are two brothers (both married)and one sister (divorsed and live with us). mother wants to allocate the assets between us by giving the house to me and my sister half each plus some deposit and compensate my brotherby giving more funds to him.
she wants to transfer the house after her death and funds now. what would be the procedure
R.R. KRISHNAA
(Expert) 10 April 2010
You mother can execute a SETTLEMENT DEED on such terms. You can also register it.
niranjan
(Expert) 10 April 2010
You must pay the stamp duty and it should be registered.
sandeep
(Querist) 10 April 2010
can only immovable proprty be settled through such deeds or funds could also be transferred. second, my mother had built this house from her sources and its not ancestrial.would it be settled through deed or through a will.
Adv.Shine Thomas
(Expert) 10 April 2010
(2) it can be settled through a deed or a will.
N RAMESH.
(Expert) 11 April 2010
Now you mother can settle the property on you and your sister reserving life estate for her.
If she wants to transfer the house after her death, she can execute a will.
Transfer of funds to your brother can be mentioned in the settlement/WILL to show that your brother was also given sufficient value.
