anil 13 April 2016

Property transfer

Dear Sir, My father purchased a land on mother's name thru his own income (salary) in 1982. He has got three sons and I am the younger one. He wants to give it to one of his son and expects that son to pay the amount to other two sons as per the market value of that property for their equal share, if any. Pl advise me what type of deed to be executed and precautions to be taken to avoid any future legal complications from other two brothers as I am required to settle their dues.

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2 Replies

G.L.N. Prasad (Retired employee.) 14 April 2016

It is always better you consult a local advocate for drafting such a deed, disclosing suh relinquishments in gift deed/sale deed. Infact, your father can as well bequeat his property through will, as it is his self acquired properlty, and in that will he may lay the conditions of such payment of market value to other sons.

b.goheel 14 April 2016

queriest,
normally this botheration is on the person who hv responsibility to give the share of other brother. frm thread, it appears other brothers hv full faith on the benefiteed brother.