I along with 4 other members of my family are ex-partners of a registered private firm that held a piece of land in Hyderabad, AP. My family members and I retired from the partnership in 1993 by a deed of dissolution and in due consideration, we received physical possession of a part of the land. Since then, we have been enjoying our property uninterrupted, and paying property taxes on it.
The dissolution deed mentions that the continuing partners shall execute a release deed in my family's favour and register it.
However, the remaining partners are having some serious internal disputes and the release deed has not been given to my family for 16 long years. Also, the remaining partners have floated two other firms and constructed two cinema theatres on their portion of property in 1998 and they now tell me that it's now required to have 3-way Release deeds. This will prove to be a complex and expensive situation.
I think that logically, a single release deed based on the 1993 deed of dissolution is all I need.
Also, is there any other way my family and I can go about to get the property title since it's a never ending task to collectively get all of the remaining members to agree and give me my release deed. Some of them might even expect consideration in cash to sign the document which I want to avoid.
I'm looking for a fail proof system where the continuing partners or their legal heirs cannot come back at a later date and claim a share in my share of property.
Thanks in advance.
