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Michael (IT)     25 March 2013

I paid for property in my father & brother's name

I would like legal advice please. Many years ago I was out of India and new to property. I financed the purchase of land in Kolkata, West Bengal jointly in my father and brother's names. Both of them acknowledge that the property is mine but am worried what happens once they are deceased.

At the same time, I don't want to have to purchase it from them as I have to pay lots of government tax which I cannot afford. My father and brother are willing to make wills where they can will the property to me. Is this good enough or do I have to do something else? Please advise. Thanks.



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 3 Replies

K. GOPALAKRISHNAN (ADVOCATE)     25 March 2013

Dear Micheal,

Give me some information,

Whether the property is in the name of your father or your brother or both.

 

 

Michael (IT)     26 March 2013

Dear Sir,

The property is currently jointly in the name of my father and brother. Please advise. Thanks. 

K. GOPALAKRISHNAN (ADVOCATE)     26 March 2013

Micheal

As the property in your father and your brother names, then they are entitled to 1/2 share each.

In that case, you may have settlement deed  executed in your favour from your father and your brother.


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