Settlement Deed
Rohit Telang
(Querist) 09 January 2011
This query is : Resolved
Iam staying along with my widowed mother in a flat which was purchased by my father in 1973 in Mumbai.I have a married sister who is asking a share in the property(Flat+ fixed deposits of banks).My mother has never earned money ie.everything belonged to my late father.My sister suggested to me to give her now 1/3 current price of the flat and she will give in writing relinquishing her future claim.Is it advisable for me to do so? Another suggestion of my sister is I give her in writing on a bond paper that I will give her 1/3 share after my mother.Is it advisable? My mother says that she will give her share to me after her death.How to ensure that my mother will give her share of flat to me after her demise? Also when daughters are given dowry in the form of gold jwellery etc,why should they ask for share in property?Is not the law against the sons?Please explain in detail and suggest ways to protect my interest.My sister is well settled in mumbai.
M.Sheik Mohammed Ali
(Expert) 09 January 2011
your father shares equal to all mother and sister and you, she has rights to ask, if your sister giving relinquish written deed , you should register that deed , that is enough
Arun Kumar Bhagat
(Expert) 09 January 2011
Get deed of relinqueshment of right executed by your mother and sister in your favour by amicable payment to your sister.
Amit Minocha
(Expert) 09 January 2011
your sister has all rights. However for future assurance, register a will of your mother in your favour for her share. You need not give anything separately in writing to your sister as she already has right of inheritance by the law.
R.venkatesh Naidu
(Expert) 10 January 2011
If the properties acquired by your father, that properties has treated as your father's self acquired properties. You all are right to equal share in that property (1/3 each share). Any how your sister has right to claim her 1/3 share in your father's property. But you or she does not cliam in your mother's 1/3 share, till your mother's life. If your mother would not any arrangement in her lifetime, after her lifetime, you and your sister have got 1/2 in your mother's 1/3 share, otherwise, otherwise your mother's share of the 1/3 share is your mother's absolute proprty. she may transfer to anybody in her lifetime by way of settlement or sale.
