Our society has taken option to redevelop the buildings (since buildings are over 50 years old), and we need to submit few documents such as indemnity, etc. We also need to sign the development agreement with builder. The block/flat belongs to our mother (as per registration office records), who has passed away 4 years before. There are 3 brothers who are legal heirs of the property, and all three names appear on membership society as per transfer forms filed after death of our mother. There was no will made by any parents, and there is no partition claim. Two brothers are away, and now do not take any responsibility of the premises, also they may not come to sign the agreement with builder. Under this case what are the options for the third and only brother who is paying society outgoings every year, and doing everything towards the property. Please help,
I am sure if ask to release rights of the existing flat, the brothers will object will never agree to do so. Also they will not take any interest in redevelopment work and their meetings and all proceedings. What can be done ?
1) two brother can execute power of attorney in favour of third brother authorising him to sign agreement on their behalf .
2) brother will not sign any gift deed or relinquishment deed but may agree to give specific POA in your favour
3) if flat is standing in name of 3 brothers one member can attend AGM and other proceedings in the absence of other 2 brothers
1. The two brothers who live away can execute a Power of Attorney in favour of third brother authorizing him to sign the agreement for and on their behalf. The POA would have to be registered.
2. By authorizing the third brother to sign the agreement on their behalf the two brothers will not be releasing their rights in the property. The rights can be released by only executing a relinquishment deed.
3. Any one of three brothers can perform all the acts which are an integral part of the redevelopment process.
Try to get a specific/special power of attorney to sign the agreement with builder on behalf of them.
and execute the agreement with builder.
In this case, the brothers who are away can execute a Power of attorney in your favour for redevelopment work. You may state in the POA that the expenses will be borne by you and that since you are residing in the property, you may take care and do the needful for the maintenance of the building.
Further, in the redevopment agreement, if the property is on your mother name, then either of the legal heir can sign. after the POA is executed, I dont think it would be necessary for your brothers to get involved.
He has only one third share of the property, collect registered POA from them, failing which he can proceed as a 1/3 rd owner in respect of the said property left other portion.
1. Collect Specific Power of Attorney from your two brothers authorisein/empowering you to execute and register all documents required for the specific purpose of the said Redevelopment,
2. On receipt of the said SPA, you can sign any document meant for the said specific purpose, for and on their behalf.
1. You can buy out their shares of the property by paying agreed consideration to them,
2. They can execute and register relingquishment deed in your favour on receipt of the above consideration and after that you will be the absolute owner of the property.