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PROPERTY TRANSFER WITH UNDERSTANDING

(Querist) 29 September 2010 This query is : Resolved 

WE ARE FOUR SISTERS LOST OUR FATHER LAST MONTH WHO LEFT AN HOUSE FROM HIS SOLE EARNINGS, NO WILL MADE BY HIM BUT HE HAD TOLD US HIS DESIRE THAT WE HAVE TO BE TOGETHER AS THE HOUSE GOT 4 PORTIONS AND HE WANTS US TO LIVE ONLY NOT TO SELL OR ENTER INTO ANY SORT OF ENCUMBRANCE IN THE PROPERTY BUT TO PASS ON TO 5 FIVE GRAND CHILDREN INTACT. HIS WISH IS THAT THE YOUNGEST GRAND CHILDREN SHOULD ATTAIN AGE OF 18 YEARS THAT TIME THE 5 GR CHILDREN CAN EITHER COLLECTIVELY CONSTRUCT A NEW HOUSE BY DEMOLISHING THIS HOUSE OR SELL THIS AND SHARE EQUALLY. KINDLY ADVICE US UNDER THIS CIRCUMSTANCES SHALL WE GET INTO AN REGISTERED DEED OF AGREEMENT OR WHAT DOCUMENT SHOULD WE REGISTER. PLEASE HELP US.
s.subramanian (Expert) 29 September 2010
You all join together and prepare a declaration containing the wishes of your father and your joint title to the property. This need not be registered since it neither creates nor conveys any title.Or else if you so desire you can enter into a partition deed now itself.There is no bar.
sanjeev murthy desai (Expert) 29 September 2010
Dear Vetrivelan,

As per my view partition is advisable.

Please follows this conditions in the said Partition.

1. Please create a periodical interest in the property in the name of 4 sisters as jointly untill atain the majority age.

2. After ataining the majority age, all the grand children should allot the said property as jointly.

3. In the said partition all the grand children should be made as a parties and they shall represents thorugh the their natural gaurdian father.


Uma parameswaran (Expert) 30 September 2010
A settlement deed or a declartion deed may also perfer.


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