Family settlement will execute . And execute release deed , less stamp duty .
Unequal division of land
A property is in the name of my father and his four brothers ie. total 5 partners. Two of the partners are dead, including my father. All the living partners and the beneficiaries wants division and they want to give me greater share in the property. Please advise how to proceed for this unequal division of share in this property without any kind of gift deed.
Asked 5 years ago in Property Law
Religion: Hindu
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11 Answers
1. divide the property through settlement deed duly registered, or,
2.get your share registered in your name showing sale/purchase, or,
3. file a partition suit (admitted)
Deed of family settlement can be entered into for division of property by metes and bounds
it should be duly stamped and registered
See you all can jointly make a partition deed and same can be registered specifying the share of each person. The partition deed need to be registered before the sub-registrar office.
Hello,
Divide the share equally and those who want to gibe up their share of the property may go ahead and relinquish their rights by means of a relinquishment deed.
Regards
A share in the property can be transferred only by way of registered deed of conveyance which include deed of gift or deed of relinquishment.
Both these deeds require payment of stamp duty.
Another option is to make a Will and to wait till the death of the maker of the Will.
You can execute registered partition deed amongst Yourselves
Execute family settlement deed, family settlement is an agreement between family members, generally made to avoid any court disputes and divide the family property with mutual understanding. A family settlement agreement is made in the same format of a partition deed.
1. There has to be a partition deed executed by all the co-sharers wherein a greater share can be given to you.
2. The partition deed has to be mandatorily registered.
Dear client
For that you can get the relinquishment deed from other partner upto the share they want to give you in your name. In which they give up thier rights on your share and after that you can get the property registered on your name with help of relinquishment deed.
The family partition or family arrangement in which the mutually agreed partition or division of properties among the shareholders can be made as agreed by all and the same may be reduced to writing and get it registered to make it more valid and effective.
