My father owns an ancestral property. I have a sister and as per the current Hindu Succession Act she has equal share. But my father wants to give her only 10% of the property and the rest of the 90% to me. My sister has agreed to it. Can my sister write a release deed in my favour where she releases 40% out of the 50% she has the right on ? Or is it mandatory that she has to release her complete share in a release deed ?
I need another help. Our family advocate is not familiar with the "Release Deed" process. Can you please let me know the exact Amendment/Article/Schedule of IPC which talks in detail of "Release Deeds" ?
Thank you !
