Arrangement with Sons
Querist :
Anonymous
(Querist) 07 March 2011
This query is : Resolved
Hello,
My wife and myself (in our 80s) presently live with our 4 sons and their family in a paagdi property.
We have already allotted rooms to each of the sons and the same should continue till the property goes into redevelopment. Now I wish to put it in writing that, in case the property goes into redevelopment, each of my sons should get equal shares in the redeveloped property.
1.What kind of document/agreement would be required to carry this out?
2. Do i need to get it on stamp paper? If yes, what amount?
3. Has this document/agreement to be registered?
4. Should I get the signatures of all my sons in the agreement/document?
5. Who should sign as witnesses?
If there is any other point that I need to consider, kindly let me know your advice/suggestion on the same apart from the questions listed above.
*[Mr. Dayananda Gowda,
The 'Pagadi' system is in vogue in and around Mumbai. It is only a rented premises. But to get that rented premises, initially the tenant is required to pay hefty sum by way of premium called 'Pagadi'. One who has paid 'pagadi' cannot be easily evicted from the tenancy. Even after the demise of the original 'pagadi tenant' his off springs are allowed to continue the tenancy.]
A V Vishal
(Expert) 07 March 2011
1.What kind of document/agreement would be required to carry this out?
Ans. A simple will is sufficient.
2. Do i need to get it on stamp paper? If yes, what amount?
Ans. Not required on a stamp paper a will on a simple plain paper is sufficient.
3. Has this document/agreement to be registered?
Ans. Registration of Will is optional but advisable.
4. Should I get the signatures of all my sons in the agreement/document?
Ans. Not necessary.
5. Who should sign as witnesses?
Ans. Two independent witnesses along with a doctor is ample as witnesses.
