We have an ancestral property that is still undivided among me and my brothers. My brother is asking to purchase my share from this property by GPA. He is only paying 50 % of the value and he is asking for GPA now itself. He says he will pay the remaining amount after 2 years.He will try to avoid paying the remaining amount as much as possible. I am currently in need of money for my business. I have some questions :-
It is an IRROVOCABLE NOTARISED REGISTERED GPA.
1. If I give GPA will i give away all my rights ?
2.In case he does not pay the remaining amount, what can I do to recover my rights on the property ?
3. Can I still recover my property even if he sells/registers it to someone else before the 2 years period ?
4. Can he just register the property to someone else before the 2 years of timperiod is over so that even if he doesnot pay, I will still lose the property ?
5. Is there any other safer option to do this transaction to make sure that I get the remaining amount besides GPA. Can we write some other document.
Thanks in advance
