Family property partition
Amit
(Querist) 17 July 2012
This query is : Resolved
A Family House in the Name of Mr. A (30 Ft X 50 Ft )
Three Sons X,Y and Z,
1. X has been living in a portion constructed on (10 Ft X 50 Ft)
2. Y has been Living in a Portion build on 1st Floor of the 1. above
3. Z was living on rest (20X 50 Ft) of portion
now in the will Mr. A stated that the portion in which X Y and Z are rightful occupation and will be living will be their righful occupation ..
further now Z wants to relinquish his rigths for an ABC sum of Rs. which is to be paid by X and Y equally...
Q1. Is it necessary to get the property registry done in the name of X (15 ft x 50Ft) and in the Name of Y (15 ft x 50Ft)? i m not in favour as it costs much...
Q2. Will a Family Partition Deed (Registered) mentioning the all above arrangement will do.
M V Gupta
(Expert) 18 July 2012
Under the will all the sons have become owners of the respective portions occupied by them.You want to transfer ur rights to the other occupants for consideration. Hence, it would be necessary to execute a sale deed and not release deed as mentioned by you, and register the document.
