LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

kumarreddy (student)     08 September 2018

Partition suit in court

My father applied for partition suit. We are 4 brothers and 1 sister. As father is one of the share holder, he can relinquish his part to any one of us. Please advise.


Learning

 6 Replies

Jamal Sait   08 September 2018

Yes, he can do so by way of either executing Gift Deed or Relinquish Deed in favour of any share holder or Relatives.
1 Like

kumarreddy (student)     08 September 2018

Thanks sir. So whatever the share of my father come from final decree he can give to any one trough relinquish deed?. Its an ancestral property.

Jamal Sait   08 September 2018

Yes. Once a Ancestral property is divided among shareholders it become self acquired property.

kumarreddy (student)     08 September 2018

Thanls sir. For example if final decree wil come after 5 years. During that time if my father not alive then also it applicable.. this is my last question to i sir...

Jamal Sait   08 September 2018

No. In order to execute Relinquish deed your father should be alive and should own the property at time of executing relinquish deed. Since final decree will come in future, he will not be knowing what properties will come to his share. Hence he can not Relinquish what he has not owned at present. However, he can make a Will to bequeath his share of properties after his death to any person.

kumarreddy (student)     08 September 2018

Thanks sirji. Father wants to give elder bro. So will tell him to make a will to bequeath share to elder. I wil ask my lawyer also. Thank u very much.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register