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partition of house

(Querist) 08 August 2010 This query is : Resolved 
Hello, 08/08/10
My father died intestate ten years ago leaving behind a house property.My mother,a younger sister and I are the survivors.As such we have no dispute among ourselves,but for the sake of settling the issue,we would like to have the property partitioned in such a way that:
My sister is willing to relinquish her share for which I propose to pay her a consideration.
My mother is willing to relinquish her share in my favour,but I would like to ensure her right to reside,just in case I predecease her.
I should have clear title to the property so that I can raise a loan for renovation and extension of the house.
I know that one of us could file a case for effecting the partition,but we would not like to take the law court route as we have no quarrel among us.
I request your considered opinions and guidance.
Thank you,

PS:I have posted this query mistakenly in the 'forum',please condone the error.
s.subramanian (Expert) 08 August 2010
Desr Sorankee

You all can enter into a partition deed in which you can take the property for your share and the money that you are prying to your sister can be shown as her share in lieu of property. The same can be done for the mother's share also. you can incorporate a recital stating that your mother is entitled to reside in the house till her lifetime.
Devajyoti Barman (Expert) 08 August 2010
Yes if you want to avoid the court then you have to make a mutual deed of partition which is to be registered from the office of the registrar.
Uma parameswaran (Expert) 08 August 2010
By filing partition suit you can save some expenses.You need succession certificate also.

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