I am planning to buy a property which is having below link. We are buying property 1.
The father had 2 property, no 1 and 2. He bought the property 1 in 1985 from Y, self acquired (sale deed 1 or also mother deed).
He is married to 2 person, 1st wife with 2 children and 2nd wife with 1child. Also still not divorced with 1st wife. The 2nd marriage took place in 2009 year, and after 6 months of 2nd marriage he had gifted 1 portion ( out of 3 portion) to 1st wife daughter in 2010.
Later, due to family issues between both wife's, they approached court and on mutual understanding it was decided that 2 portion( out of 3) of property 2 will be given to 1st wife and other son based on registered will without taking divorce.
So till now,
Property 1 - 1 portion to 1st wife daughter in gift deed 2010 and other 2 portion in father name.
Property 2 - 2 portion to 1st wife and son in form of registered will in 2010 and 1 portion in father name.
But later in 2014, they planned to have 1proprty in each for each wife
So they entered into a Release deed in 2014 with releasors as 1st wife and children and releasee as father mentioning both property schedule and saying that" the property 1 will be given to 1st wife and children and father or any person will not have any right on it. Similarly 1st wife and children will not have any right on property 2 from that day"
The release deed execution is invalid as it is contradicting the sentence in it and execution where 1st wife and children are releasors.
Later on same day the father gifted the other to portion of property 1 to 1st wife and son. So complete property 1 belong to 1st wife and children and they have khata in their name.
So now only for property 1,
Main sale deed of 85 is lost. Gift deed of 2010 is lost. Release deed, 2 gift deeds of 2014 are present.
When we take latest EC, for each, based on the latest txn 2 portion it says that father gifted the property to 1st wife and son as per 2014 and before that release deed was executed and before that purchase by father from other person.so it is clear.
But when I take EC for other portion of same building, it says release deed is executed from daughter to father and before that father to daughter gift deed. So as per latest EC, this portion doesn't belong to daughter as release deed execution is not right The release deed statement is contradicting with execution.
Due to this I had to suffer for home loan but finally loan is sanctioned. The father refused to sign as consenting witness. I don't want to take risk in future. So I am planning to get indemnity bond executed. Can I go with it? What is the validity of this bond. Are there any other suggestions?
