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family settlement deed, is it a goood option !!!


Hello,

We have 160 sq yard property with 3 floors built-up. Out of 160 sq yard, 60 sq yard belongs to my grand mother as GPA and remaining 100 sq yard, Ground floor owner is my uncle with proper registry in his name and first floor & second floor of 100 sq yard belongs to my father's name.


So in short,

66 sq yard all floors belongs to my grand mother name

100 sq yard ground floor in my uncle name

100 sq yard first floor & above in my father's name

My father died in 2008 so in order to get the right of 100 sq yard First floor & above, i will need a R-Deed from my grand-mother, my mother & sister as Second party. Moreover, my uncle is ready to give the rights/ownership of 100 sq. yard Ground floor to me. So overall, I will become the owner of 100 sq yard all floors. And my grand-mother & uncle will keep the 66 sq. yard portion.

As the owner of GF is my uncle, First floor & above owner is my father for 100 sq. yard and for 60 sq yard owner is grand-mother. In such case, will a Family Settlement Deed is good idea or shall I get ground floor of 100 sq yard as sale deed. (Also note as the area is unauthorized so registry is not being done here as of now) and my uncle has registry in his name for the ground floor which was done in 1990s) so I can get a Sale deed + GPA + his will. Or Family settlement deed as some drawbacks?

PS: there is no fight with relatives & we want to settle the issue amicably/peacefully.

 
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