Hi
Mr. X has got the 1/3 rights on property earned by His Father Y ( Mr. Y had 2 more sons along with Mr. X) Mr. X has three sons (A ,B & C) and one daughter, Mr. X has Equally distributed his property among his sons verbally after relinquishing the rights by his daughter in favour of A,B&C. Now A & B wanted to make a family sattlement with C to withold his rights on property by giving monetary compensation against his shares on proerty. C wants that the amount of compensation needs to be mentioned in Family sattlement.
At present the property is in the name of Mr. X only
Now, my first question is what were the modes through which property can be transferred with minimum cost?
Family settlement deed - in which minimum stamp duty is payable.
now my second question is whether the family settlement deed in which both father Mr. X, A,B & C sister will be the party to the contract, is full proof mode to transfer the property to A&B?
whether in future their is any legal right with father, younger son or sister has in respect of said property or else the said property will be solely and severaaly will be held in the name of Mr. A.?
