Dear All, This is my first time - so please excuse if the question has been discussed earlier. Here goes.
My father owns few immovable and movable assets and wishes to settle (gift / settlement) my Sister who is married with no children. There are absolutely no family issues and all is well. The settlement is going to be made in cash for a property my sister is interested in and the agreement (between sister and father) is that post the transfer of cash, she should not be liable for any other claims on his property or of her siblings or any other legal heirs to my father property (All properties are self-made and nothing is inherited). The question to the forum is as follows :
1) Other than a will, can we institute a declaration / deed from my sister saying post she receives the cash, she and her legal heirs will have no claims whatsoever on the father's property or his legal heirs.
2) Would it suffice to get this registered with the sub-registrars office or do we have to get this filed at the courts.
3) The idea is to mention in a legal document, that she has no rights whatsoever in any movable or immovable assets of my father - do we need to list all assets or can we say "all assets, movable or immovable"
4) Is there a template for this "declaration for no legal claims" - it would be very helpful to understand.
5) What is the rock solid way to settle this ?
Some additional points to note : My sister or me or other siblings have no right on my father's property during his lifetime since the property has been acquired through his own earnings. He is constituting a will as well.
Many thanks in advance for your efforts.
