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DEEPAK SINGLA (PARTNER)     12 October 2012

Property ownership

 

We are four brothers and no sister. Father constructed 3 storied house in 1966 in Delhi and died in 2007. According to will we three brothers (A B and C) got share in the house GF to A, FF to B, SF to C with terrace right. Brother D and mother gave relinguish Deed duly registered in favor of A,B and C jointly. A,B and C are also residing in the house in the same manner.
 
Now Brother B wants to demolish this house and will incurr all the construction Exp of 4 story New House on the same plot with the undermentioned understanding.:-
 
1) B will get second floor and third floor with terrace right.
 
2) C will take First Floor and for leaving his terrace right he will get Rs 50 lac from B.
 
3) A will remain on GF but will also get Rs 25 lac from B for not claimng any right in the third floor.
 
Query :---------
 
1) For this arrangement can we make family settlement deed or we have no option except to make partition deed duly registered ?
2) How B will get ownership title for extra 4th floor?
3) How C will get ownership title for first floor?
DEEPAK SINGLA


Learning

 2 Replies

Mrinal Madhav (Partner)     12 October 2012

A family settlement is equally valid. Infact the Supreme Court has said it time and again the family settlements should be followed. So there is no problem in a family settlement.

DEEPAK SINGLA (PARTNER)     12 October 2012

Thanks for the valueable suggestions.

DEEPAK SINGLA


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