My grandfather had created a Settlement deed for a property in name of GrandMother , My Father and my father brother (3 people) . MyGrandmother wants to give the proprty into 50:50 ration to both her sons. My grandfather;s settlement deed does not mention information on the share each person will hold. (i.e Has not subdivided the property for the 3 persons and mentioned that propertty as whole with 3 shares).
So from my GrandMothers view is it better to write a Will or to do a Gift or is there any other way (write s settletment deed for my G.Mother).
Also she fells that she had done her best to her daughers and doesn want them to create a issue in her share defined in the Settlement deed created by my grand father.
as per the settlement deed already you and your brother [posess 1/3 rd share in the grandfathers property.now your mother if she wants to give her share 50,50 to both of you while she is alive she can gift her share 1/3rd to both of you or if she wants her share to devolve in equal shares after her death she can execute a will keeping you both as beneficiaries
Can my GrandMother gift or execute a Will for the property (1/3rd of her share) very breifly to her 2 sons (stating tat her share beongs to 2 sons) , Becos as per the Settlement deed we dont have a particular piece of land alloted for any one of the three members. Its all put as one land document.
yes she can write a will but it will come into force only after the testators death.now as per the settlement deed you can arrive at a family [partition between you three so that each of your share can be mutated over your names