Which document is advisable?

The five children of the couple are willing to settle this transaction in peaceful manner

Yr query is incomplete.. does not give full facts.. e.g. a couple can not have three brothers and two sisters..

I have clarified it.....but for your information.........couple has five children......i.e. three sons and two daughters

so mr.govind all the three brothers make a relinquiesh deed for his sister .

All the property stands in the name of the father and mother. Three sons have no name in this property. They should have the right and title to make a relinquish deed.

It is better to exeucte the rights relinquish deed to avoid the future dispute amongst the sons

THE BEST COURSE IN MY OPINION IS THAT THE COUPLE(SPOUSES) OWNING THE PROPERTY SHOULD DONE THE PRPOPERTIES IN THE FAVOUR OF SISTERS AND BROTHERS SHOULD GET IT SIGNED AS NO OBJECTOR;

I SO ADVIS BECAUSE  NEITHER THE BROTHERS NOR THE SISTERS OWN THE PROPERTY IN PRESENT,THEY HAVE MERE A CHANCE OF INHERITENCE IN FUTURE.

HOWEVER GIFTS ONCE MADE,AND ACCEPTED MAKE SISTERS OWNER JUS THEN AND THERE AND COUPLE WILL CEASE TO HAVE ANY OWNERSHIP RIGHTIN PROPERTIES SO DONED OR GIFTED.CHANSES MAY ARISE THAT WHEN THEY BECOME OLD NO BODY LOOKS AFTER THEM AND THEY FEEEL NEGLECTED.

TO AVOID THIS CIRCUM STANCE A REGISTERED WILL MAY BE DRAFTED AND ATTESTED APPOINTIN SISTERS TO INHERIT AND REASONS SHOULD BE RECORDED WHY BROTHERS ARE BEING DISCORDED FROM IN HERITENCE AND IT SHOUL BE GOT SIGNED BY BROTHERS SO THAT SUCH A WILL IS IN THEIR KNOWLEDGE SO THAT NO DISPUTE ARISES AS TO WILL AFTER THE DEATH OF COUPLE.

Thank you all for your valuable contribution but there are some pending cases for that property. The couple can not go to the court and handle the matter further. The couple also wishes to settle this transaction till they are alive. They do not want to leave it until their last breathe. It is getting a bit complicated.

then ,tome,GIFT ,WOULD BE BEST.

It is better to execute a Gift Deed in favour of the daughters reserving life interest upon the property with the parents and sons can be witness to the execution.

Make a private trust and transfer all the properties in the name of trust and make the daughters benefiaciaries or even trustees.

I am going to start an trust .What's is the procedure & how to make an document for the trust ,it contain all in one example:women,chid education consumer protection etc.Is there any model for the document

It shall be done with a family arrangement, with a clause wherein the brothers shall relinquish their rights to the sisters.

N.B. The schedule should show which sister gets what property.