distribution of property amongst the children

Querist : Anonymous (Querist) 13 March 2010 This query is : Resolved
Which document one has to draft for the distribution of the property?

One father has been owning one bunglow and he has three sons . first is mentally retarded and other two are also staying with him. Second son wants to stay with the parent. but third son wants to purchase another bungalow. Second son has agreed to finance the third son.

Now father wants to transfer his bunglow to second son.

which document that father should prepare mentioning above facts.

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A V Vishal (Expert) 13 March 2010
If the property is self acquired then a conditional gift deed stating the facts can be executed and registered, however, if the property is ancestral than first the property must be partitioned and only then both the sons can relinquish their share in favour of the second son.

Raj Kumar Makkad (Expert) 13 March 2010
In the case of gift-deed, huge stamp duty is required so it is good to draft and family settlement and get its decree from civil court and this decree be got registered on a nominal stamp duty of Rs. 100/- and it is a valid document in the given case. It shall not only establish the whole arrangement like financing by second son to third son and some provision for the maintenance of the first son who is unfortunately mentally retarded person.

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