Dear LCI Experts,
Here are the salient facts for which I need some advice:
My two uncles and I are joint patta holders of a plot of agricultural land in Chennai. This land is ancestral in nature and has been in the family over 100 years. Our relative (who was also the lessee that was cultivating this land up until last year) claims that he purchased half of this property from my Grand Uncle, i.e., my Dad's brother, in 1973. Little did he realize that my Grand Uncle did not have any ownership in this property as per the family settlement document dated 1959. Now this relative realizes that he made a mistake and we have come to a mutual compromise whereby we (my uncles and I) will give him some compensation and in return he will return possession of the land and this has already been effected and we have control of the land. I have also obtained the registered document (from 1973) from my relative. Please note that my Grand Uncle is dead.
My query is this: My uncles and I are entertaining offers for this piece of land from prospective buyers and I am curious to know if I should cancel this 1973 registered document (although faulty) and/or get something in writing from my relative so that the buyer gets a clean property.
Thanks and best regards,