Dear lawyers,
My wife is going to have a share in her grand mothers property. The said property was purchased by her grand mother from the seller during her time. The only legal heirs present now are her uncle and herself. Now i have a son 1.5Yrs old. To preserve minority rights issue, do we need to allocate a share for him by the name of FD during the selling process?? I f so what percentage and the amount in that fixed deposit..., should it remain untouched unitll he attains the age 18 or can we use that amount and the interest earned by that amound for his studies and his betterment??If so what kind of procedures need to be followed during the time of creating FD??
