Regarding inherited properlty
manjunath
(Querist) 26 October 2011
This query is : Resolved
Hi
My Father got the vacant land as inherited property from his grand fatther.
Later My father built on this vacant from his own money.
My father has 3 sons and 2 daughters, Since he has constructed the building from his own money, he wants to give the property to his sons . (his idea is to give some amount to his daughters and property to his sons)
Please let me know the pros and cons. if he go ahead with this way.
ajay sethi
(Expert) 26 October 2011
was it self acquired property of grandfather?
has your father inherited it by will ?
is your father the only child of your grandfather?
i such as case your father can by will bequeath property to his sons . the will should mention that daughters are being given money lying in various fixed deposits etc .
Shonee Kapoor
(Expert) 26 October 2011
You all can go for a family settlement, which can be reduced to writing and enforceable after the demise of your father.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Guest
(Expert) 26 October 2011
EXECUTE A REGISTERED PARTITION DEED AND ALLOT PROPER SHARES AMOUNT/PROPERTY OR RELINQUISHMENT OF SHARE. WHAT YOU LIKE.
Advocate M.Bhadra
(Expert) 26 October 2011
Your father should execute a registered Deed of Family Settlement or Deed of Gift.
manjunath
(Querist) 26 October 2011
Hi
Thanks for your valuable input.
I would like to give the correct picture here.
1) The huge property belongs to my grand grand father. (i dont know how he got it)
2) My Grand Grand father has one son(i.e. my grand father - my father father)
3) My grand father has 4 sons and 1 daughter.
4) But my Grand Grand father has done a will as my father as Adopted son and divided the whole property in to 2 share , one share to my father and one share to my grand father .
5) after my grand father expires, my father(Eldest son) made an equal 4 share of the property and registered to his brothers and given an share amount to his sister.
So after that my father build a 2 story house in his portion from his own earning.
Now my father wants to give this 2 story building to his 2 sons and a share of amount to my sister.
Will this hold good in law.
Raj Kumar Makkad
(Expert) 26 October 2011
All options have already been discussed by various experts so chose best one and get it executed.
Raj Kumar Makkad
(Expert) 26 October 2011
In the given facts (now), your father is absolute owner of the property and it is self acquired property of your father so he is free to provide it as per his own whims and wishes. He may make will, can gift, can sale, can dispose off in any manner without interference from his any children.
prabhakar singh
(Expert) 27 October 2011
In case the property was inherited by your grand grand father[we call great grand father]from his father or was self acquired by him,he was quite competent to use it in manner he wanted without any interference from any body.
He was then competent to make the 'will'.
Your father become owner of 1/2 just in life time of your grand father who had the other 1/2 as per will of your grand grand father.As after death of your grand father
your father willfully distributed by a registered deed among his brothers and sisters all became separately owner as self acquired of there specific share allocated
in the registered deed.
WHAT EVER YOUR FATHER GOT ALLOCATED FOR HIM BY THIS REGISTERED DEED IS EXCLUSIVE ABSOLUTE OWNED PROPERTY AND 2 STORY HOUSE CONSTRUCTED THERE ON IS ALSO HIS EXCLUSIVELY OWNED PROPERTY WHICH HE IS ENTITLED TO DEAL IN WHAT SO EVER MANNER HE CHOOSES TO DO,SALE ,GIFT ,LEASE ,MORTGAGE ,EXCHANGE,OR WILL,ANY THING HIS RIGHT WITHOUT ANY INTERFERENCE FROM ANY BODY.
Now YOUR FATHER CAN give this 2 story building to his 2 sons and a share of amount to my sister.NO HURDLE IS THERE IN HIS WAY TO DO SO.
manjunath
(Querist) 28 October 2011
Hi
Thans to everybody (arun/raj/prabhakar ...) for your inputs.
Would like to is there any link available on the net for this kind of issue which was settle in indian court.
So that i can go thru those court order on the net.
thanks
manju
