Hi,
I have a question regarding property settlement/division.
My father did not inherit any property. He was a central government employee and could build just one flat in his life. He sold it to buy a piece of land on his name.
Later on, house was built on that land from my earnings (not father’s savings/earnings because he had none). House is on father’s name. The money that I contributed will be considered as a gift from my side. Right? One point to be mentioned is that whatever money my father received after retirement was lost by him in share market etc.
Secondly, I have brother and sister in my family. So I would like to know if they have equal share/right on the build house (including land) or only on the land. Note that the house is not inherited by my father.
Thirdly, can my father write a will to give 50% share of the plot to my brother, 50% of the plot plus full construction (house) to me and none to my sister? Is such a will valid?
My father always had POA to operate my bank accounts and he used the money to build the house as per my consent.
On same lines, can my parents (father+mother) write a will(s) to give almost all properties to me and only a small fraction to my brother and none to my sisters. This is also because all the properties are built from the money earned by me but they are in the names of parents.
There is no dispute in the family but I would like to know what the law says in this case. Moreover I personally want my sister to get/claim share from their in-laws rather than from her parents (who are my parents as well). I have same thinking in case of my wife, in the sense that I do not want her to claim anything from her parents but keep whatever I (or my parents have) have.
Experts’ comments are welcome.
Thanks in advance.
