Rights once waived in ancestral property is to be regained.
Ratna Singh
(Querist) 17 January 2014
This query is : Resolved
Is there any provovision in law that rights once waived in ancestral property for a definite purpose can be regained? The facts are,that there are 4 legal heirs in an ancestral property.2 of them are well off and the rest of 2 needed to take loan by mortgaging the whole property. To facilitate the porpose the first 2 brothers waived their rights in the property by executing a registered document. All the four made an oral agreement for the purpose. Accordingly all the four are contributing for the installments of the loan to help the 2 brothers. When
the whole loan will be paid and the property will be free the first two brothers who have waived their rights will regain their rights over the property. These two brothers now fear that the sons of the other two brothers may object their regaining of their rights and make use of the registered document of waiver of rights. Can this agreement be made into written and registered? Is this type of agreement lawful? What is the provision in law that supports it?
ajay sethi
(Expert) 17 January 2014
what are the contents of regd document . if deed of relinquishment has been executed by 2 brothers and it is duly stamped and regd they wont have any share in property
kuldeep kumar
(Expert) 17 January 2014
Wen rights r already relinquished by executing deed,they can mortgage property.
Ratna Singh
(Querist) 17 January 2014
Yes it is duy Stamped and registered. But all was done under mutual understanding and agreement. Moreover they are helping in repayment of loan. Can't the deed be reversed mutually? It may be helpful only if the other party takes legal action. Is there any provovision in law that may be helpful?
Ratna Singh
(Querist) 17 January 2014
Yes it is duy Stamped and registered. But all was done under mutual understanding and agreement. Moreover they are helping in repayment of loan. Can't the deed be reversed mutually? It may be helpful only if the other party takes legal action. Is there any provovision in law that may be helpful?
Advocate. Arunagiri
(Expert) 17 January 2014
If there is any condition mentioned in the relinquishment deed, and if that condition is violated, you can revoke the relinquishment.
ajay sethi
(Expert) 17 January 2014
after repayment of loan they can gift you share of property by gift deed
Ratna Singh
(Querist) 17 January 2014
Thank you all for the quick responses.
Rajendra K Goyal
(Expert) 17 January 2014
Mutual understanding not documented is difficult to prove.
Property may be got back by gift deed as soon as loan is repaid.
