LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

DEEPAK SINGLA (PARTNER)     12 October 2012

Property ownership

 

We are four brothers and no sister. Father constructed 3 storied house in 1966 in Delhi and died in 2007. According to will we three brothers (A B and C) got share in the house GF to A, FF to B, SF to C with terrace right. Brother D and mother gave relinguish Deed duly registered in favor of A,B and C jointly. A,B and C are also residing in the house in the same manner.
 
Now Brother B wants to demolish this house and will incurr all the construction Exp of 4 story New House on the same plot with the undermentioned understanding.:-
 
1) B will get second floor and third floor with terrace right.
 
2) C will take First Floor and for leaving his terrace right he will get Rs 50 lac from B.
 
3) A will remain on GF but will also get Rs 25 lac from B for not claimng any right in the third floor.
 
Query :---------
 
1) For this arrangement can we make family settlement deed or we have no option except to make partition deed duly registered ?
2) How B will get ownership title for extra 4th floor?
3) How C will get ownership title for first floor?
DEEPAK SINGLA


Learning

 2 Replies

Mrinal Madhav (Partner)     12 October 2012

A family settlement is equally valid. Infact the Supreme Court has said it time and again the family settlements should be followed. So there is no problem in a family settlement.

DEEPAK SINGLA (PARTNER)     12 October 2012

Thanks for the valueable suggestions.

DEEPAK SINGLA


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register