A Property belongs to a person(let us call A) (anchestral house converted to flats 3 out of 4 flats occupied by he and his 2 brothers,1 occupied by the builder, UDS executed through sale deeds).
Now he wants to settle the property to A's wife's(B) sister's(C) daughter(D). Plan is as follows: A will settle the property to his wife(B) through settlement deed. In turn B will settle to her sister(C) through another settlement deed with life interest of A & B.
Why are we doing it this way instead of writing directly. Of course to save, Stamp duty & reg. fee payable. (Instead of 7%+4%= 11% we will incur only 1%+1%, 1%+1% total 4%)
Questions:
1. If C dies first, who will be the legal heir, daughter of C or will it reverse?
2. Is percentage stamp duty (1%) & Reg. Fee(1%) for Settlement deed between married sisters specified applicable?
3. Can B's brothers raise any dispute?
