Property agreement between family members

If you have more confident on your Question No.2 of your querry, if complied, your problem will be solved.

with regard to your payments made, only creates a loan to your brother and he will repay you, at his option. If any disputes arose between you and your brother in future, you will be entitled only for your payments, but not share on the flat at any movement. 

Thanks for your reply.

My question was can I include "I will have primary right to request to sell this property at any time and they will have to repay me one half of the share." in an agreement. Couple of more questions:

1) Can I have her would be wife also sign this deed?  * Again the flat is registered only in my brother's name*

2) Would a settlement deed solve the problem? What will be the cost of registering a settlement deed?

Thanks again!

Vivek,

From your query I can understand that you do not have any rights over the property because it stands in the name of your brother.  Thus as an absolute owner and title holder of the property, he can do anything with the property, he can even deny your share of money put into it while purchasing the same.  Instead of going  in a round about  way, better ask your brother either to make a gift deed or settlement deed in your favor in respect of the half share in the property as claimed by you.  Do not keep worrying about the cost and other registration charges because when compared to a huge problem in the future about the undivided property in the form of his wife or other circumstances, it is better to shell out what ever is required now itself to avoid the future calamities in this regard.  Act wisely now itself. 

Hello Kalaisevlan,

Thanks for your reply it makes sense. I was wondering since I paid money for purchase of this flat, do I have to go with Settlement Deed? Second what is the stamp fee and registration fee for settlement deed. If it would matter the flat is in Mumbai.

Vivek