Urgent property matter

sandesh (Querist) 11 March 2022 This query is : Resolved
MY FATHER AND HIS TWO BROTHERS HEMCHAND AND KEDAR SHARED A COMMON HOUSE PROPERTY IN ALWAR RAJASTHAN.KEDAR FILED SUIT ON MY FATHER AND MY UNCLE HEMCHAND THAT THE PROPERTY BELONGS ENTIRELY TO HIM CASE HAS BEEN GOING ON LAST TEN YEARS .LAST YEAR MY UNCLE KEDAR GOT EXPIRED AND MY UNCLE HEMCHAND GIVE AWAY HIS SHARE TO MY FATHER BY WAY OF POWER OF ATTORNEY MY FATHER GOT REGISTER MY UNCLE SHARE ON HSI NAME AS MY UNCLE HEMCAHND UNABLE TRAVEL TO RAJASTHAN .NOW WE HAVE 66% SHARE IN PROPERTY AND KEDAR SON HAVE 33% SHARE
NOW THERE WAS MUTUAL UNDERSTANDING BETWEEN US AS MY FATHER HARIOM ALSO PASSED AWAY THIS MONTH WE AGREE THAT I SON OF HARIOM KHANDELWAL WILL TAKE 45% AND SON OF KEDAR WILL TAKE 55%
MY QUESTION IS I HAVE 66% ON PAPER AND I M TAKING 45% HOW TO REDUCE THE TAKE LIABILITY.HOW MUCH AMT SHOULD BE TAKEN IN CASH AND CHEQUE
THE PRPERTY VALUE 70 LACS TO 75 LACS

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A family is facing a property inheritance issue involving a house shared by three brothers. After the passing of one brother and a transfer of shares, the current owners have a 66% stake, with the deceased brother's son holding 33%. A new agreement proposes a 45%/55% split between the original owner's son and the deceased brother's son. The main concern is how to minimise the tax liability associated with this adjustment, particularly regarding the cash and cheque payments for the property valued between 70-75 lacs.

sandesh (Querist) 12 March 2022
URGENT GUIDANCE REQUIRED

kavksatyanarayana (Expert) 31 March 2022
You have asked this query and it was replied to by some experts. Still, what is your doubt? If the children of B, now want to share what can you do? So the children of A, B, C brothers shall mutually and amicably agree, and do partition is the best option in my view.

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