Sale of ancestral property
vamsi
(Querist) 17 July 2014
This query is : Resolved
Hi Experts,
We have decided to dispose our ancestral property. My grandfather has 4 sons and say A B C D.
A has Expired and has 2 sons say A1 A2. A1,A2 have agreed to sell
B has agreed to sell has son B1.
C has agreed to sell has sons C1 C2
D has agreed to sell and has a son D1
Basically my[i'm C1] father C is in India. All A1,A2,B,D have agreed to give Power of Attorney to my father C so that he can represent all during sale of property.
All A1,A2,B,C2,D are living in abroad.
Now issue is this. we grand children A1,A2,C1,C2 have decided to buy our grand fathers property for fair market price by paying the amount to B and D minus of our shares A and C. [ say value of property is 100 rs/4 shares= 25Rs per A,B,C,D. A1,A2 to pay 25 Rs to B &C1,C2 to pay 25Rs to D]
A1,A2,C1,C2 -> B and D
I would like to know how to get this entire deal registered so that there will be no legal issues in future.
1. we brothers A1,A2,C1,C2 would like to buy and keep the property as 2 shares.i.e A and C. How to get this registered. Can my Dad 'C' gift us[C1,C2] his share. Do we need to do this thing via registration?
2. During the registration , can we also mention that my cousin's B1 and D1 cannot claim for rights on their grand father's property? [ As their father's B&D have agreed to sell to us]
3. Do we need to get signatures from my father's sister who is alive? and from her children?
4. we [A1,A2] &[C1,C2] can enter into agreement for any constructions on that property?
Based on you experts opinion i would like to proceed. Request you to please help and guide.
vamsi
(Querist) 18 July 2014
been waiting for expert's advice . Anyone?
T. Kalaiselvan, Advocate
(Expert) 19 July 2014
How is this an ancestral property? If it was your grandfather's property then it cannot be an ancestral property, donot mix up all the terms together and get confused as well as confusing others too.
If your grandfather died intestate leaving behind him his legal heirs to succeed his properties, all his legal heirs are entitled to an equal share in the properties left intestate. How many children were there to your grandfather?, four sons and one sister?, then the properties will be divided into shares by each of his children taking a share. Now A is reported to have died, his share will be acquired by his legal heirs, i.e., his children and his wife. The children of other legal heirs (who are alive now) to your deceased grandfather are not entitled to any share in the property during the life time of their fathers/mother(female legal heir of grandfather).
Now, on the basis of above, you may calculate other things, if not understood, come back with your further queries.
Advocate Ravinder
(Expert) 19 July 2014
1. we brothers A1,A2,C1,C2 would like to buy and keep the property as 2 shares.i.e A and C. How to get this registered. Can my Dad 'C' gift us[C1,C2] his share. Do we need to do this thing via registration?
---All the parties i.e. A1,A2, B, B1, C1,C2, D, D1 should give registered Power of Attorney in favour of “C” as agreed. Then “C” should execute registered settlement deed stating that the share of B, B1, D,D1 shall be given to A1,A2 and C1,C2.
2. During the registration , can we also mention that my cousin's B1 and D1 cannot claim for rights on their grand father's property? [ As their father's B&D have agreed to sell to us]
--As this is ancestral property, your cousin B1 and D1 also will get right in the property. Either they have to give Registered power of attorney in favour of C or they have to be made as parties in the registered settlement deed. The rest I have stated in the point No.1.
3. Do we need to get signatures from my father's sister who is alive? and from her children?
--Yes, you have to get, since it is ancestral property.
4. we [A1,A2] &[C1,C2] can enter into agreement for any constructions on that property?
--After getting registered family settlement deed, you can enter.
If you have any further doubts contact me ravinder2345@gmail.com.
vamsi
(Querist) 19 July 2014
Thanks a lot Experts.
Will take this forward based on your advice.
I will get back to you Mr. Ravinder if i need any help.
T. Kalaiselvan, Advocate
(Expert) 19 July 2014
It cannot be presumed to be an ancestral property, if it is, then the sister of all those A to D has a rightful share in the property since it has not been duly partitioned as on the date of the amendment act. Therefore, without executing a registered Release deed by relinquishing her rights by the sister, by just merely signing the sale deed papers, the property cannot be legally transferred to anyone atleast in respect of her share in the ancestral property. It is advised to better consult a local expertise lawyer and take his further advise showing the relevant property documents to him and proceed accordingly.
vamsi
(Querist) 19 July 2014
Hello Kalaiselvan Sir.. As per your adivise i would certainly consult advocate before proceeding. Thank you so much.
