the details of property are as follows
house which was purchased by the mother in 1992 and transferred by court ruling to elder brother after partition of property in 1998
deal signed by my father for purchase of property for "X" amount ( 50% was cash and rest cheque) paying 10L advance. unfortunately the owner died due to illness 1month after the "bayana" was given. he is survived by a son 16 1/2 yr old, wife,mother and father. it's a joint family which lives in another house with deceased's brother.
a affidevit was filed in court by the family and my father that the house has been put for sale by the deceased for X amount and 10L paid as advance so the said house may be allowed to be sold as the son is minor.
the court rules that the 30% of the money goes to son account and rest to wife and mother and house may be sold.
SO according to the court decision we have to give all X amount in cheque, which is not possible as the official land prices are 50% of the X.
The option given to us is that we do the same deal as was earlier decided pay amount and mother and wife will get their share of property registered, wait to son to become major and then he will sign his share of property because the sale deed as per court decision is not feasable.
now i am in delima that what if
1>later son decides not to sign as we will be giving all the money in advance?
2> what if something happens to my father in the mean time?
Is there any other way for the deal to work? i was thinking that we deposit the 30% amount in sons account as required by court, rest 20% cheque and 50% cash to mother and wife totaling X amount and get the deal done
is it possible for the mother and wife to later object after getting registery done that the amount paid to them was less? Can son later object that amount given to his mother or grand mother was not according to court decision?
your valuable guidance is requested as X amount is my fathers all life earning,
thankx in advance
