Hi,
I need help. My father owns 6 acres land in Karnataka. Five acres are from my grand father and one acre was my earned by my father himself. Me and My brother are the only children to my father. My mother died recently.
We would like our father to get married again however we do not want to get into legal disputes for property later. My father suggests that, he will make a irrevocable gift deed of 2 acres of land to me and my brother each (inherited from grand father) and keeps the other 2 acres to himself. (1 acres he earned and the other one acre inherited).
He will have 2 acres of land to himself while he goes for second marriage. Will the second wife have any legal rights on the gift deeds he has made to his first wife children ? Even in the long running future ?
My dad has sisters but they are not interested in property. My dad wants to sell the land later and he says he will get their consignee withness while selling to third party. He wants to protect me and my brother from second marriage legal disputes.
Will the gift deed be valid if my dads sister do not sign ? My father has other brothers, I guess they have not got their sisters sign while transferring the property from my grand fathers name to my father and his brothers name. I guess this is another big topic legally.
In short, How do my father protect us from property dispute while he goes for second marriage. Even if its not perfect, atleast we should be 80% perfect.