Hi,
I have a query regarding property partition. My Father has an ancestral property. Now he want to divide it between 4 siblings( 1 son and 3 daughters - all married). We all( siblings) dont have any sort of issues and want the division be done in a most economical way possible. Each one's share has been already decided long bakc and all are happy with it. At the same time we all feel that they my mother and father hold some property under thier name which would be inherited by me after their lifetime. If a partition is to be written, should the complete property be divided or can hold some property which would be transferred to the son later on? What kind of partition needs to be executed in this case? I believe that the charges in AP for this kind of partition is 1% of property value.
Kindly suggest
Thanks
Phani
