P sarkar (engineer) 20 July 2013

Division of parental property, mutual agreement

Dear Sirs/ Experts,

Please advise;

Is it possible for the siblings (daughter & son of same parents) to enter into a mutual agreement to decide about the division of parental property (to which they both will have equal rights by virtue of Indian succession act after their parents are no more).

Currently those parental property do not belong to them as parent is living.

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2 Replies

Solicitor Chirag Shah (Advocate & Solicitor) 20 July 2013

Hello, Mr. P. Sarkar,

Since Parents are alive no doucment as stated to part with the property of parents could be executed by the childrens.

As parents have full right to deal witrh the property during their life in the manner they want.

Since childrens do not have any Right to the property at present they can not deal with the property in any manner.

Once the parents die, the right of Cihldrens will automatically arise on the property, provided parents died intestate and without disposing the property.

Regards

Chirag Shah.

(Aforesaid details is suggesstive and could not be acts upon without obtaining detailed advise on subject matter.)

Adv Archana Deshmukh (Practicing Advocate) 20 July 2013

Till the parents are alive there is no point in entering any such agreement.

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