My dad is an ex-service man and is now 76+ and my mom is a home maker aged 70+. We are 3 siblings where my elder brother had passed away 9 yrs back on a road accident leaving behind his wife and his son who is now 20 yrs old and i have an younger sister who is married and has a daughter who is 12 yrs old. I am married and have a daughter who is 5 yrs now. I have two issues to be clarified .
1. We have a self earned resedential property by my dad which is on my moms name where we now live and is now worth around 2 crores, but we have lost the mother documents around 2.5 yrs back, in trun we have an FIR copy filed with our local police station and a paper publication done and obtained a duplicate cope of the property. Now that we have been discussing to sell the property and equally share the quantum of money made. In this situation is it mandatory and necessary that we sibling have to sign an NOC ?
2 We also hold a commercial property in our city worth 1.5 Cr now that is on my dads name and that mother doc is also lost like my residence and we have the same procedure done .This property was originally purchased by my great grand father which was then a house. But, during my dads earning period he had demolished the house and transformed it into a commercial property which is now fetching us a rental income. My dad was born with 6 siblings for whom he has paid off the money that was equal to the property and has an agreement of the payment done to his siblings. Now, what is the property considered as ? is it my ancestors property or my dads property ? I get confusing statments who say this is just a renovation done however this property is originaly my great grandfather. Hence if we divide it this has to be done in 4 shares, which is we 3 siblingns and my parents, is that correct ?
Please advice !
