Don’t agree to such a condition that you pay Rs 75 lakhs now and registration be done after demise of parents 

2) sisters can object to transfer later 

3) they can obtain stay order restraining transfer of property in your name 

4) will can be revoked by father at any time 

5) better option is father executes will bequeathing property equally to 3 daughters and son 

I intend to Buy a Property ( Home with land ) from my Parents aged 83 and 71 .

I have 3 Sisters as well . The price considered is Rs.1cr.


The condition is , we can pay now Rs 75Lacs, ie. share of 25lacs each to the 3 sisters ( 25 lacs our share not to be paid ) and they will give a NOC document /affidavit to register a sale deed and agree their share to the Property as received .

 However , Parents will write now only a Will or contract , which will confirm that the full Payment of consideration has been received by the Respective sisters and the Document and Property can be registered and transfered to my name after their lifetime without any objection by my sisters.

Questions

1. Is this Legally Valid to pay now and register later after may be 15 years or so ,on death of parents ?

Ans. Your parents are absolute owner of the property and are competent to sell the same to anyone. 
If you intend to purchase the property purchase it for Rs.75 lakhs and get the sale deed registered in 
your favour. During their life, you and your sisters have no right to claim your share. Your parents can keep that
Rs.75 lakhs and pay them as per their wish. Once the property is sold to you and sale deed is executed in your favour
against consideration amount, your sisters cannot claim their right after the death of your parents. Conditional Will is not
valid Will. Making payment now and getting it registered i.e. after 15 years is risky. Moreover, after 15 years , the value of 
the property would increase and the legal heirs of your 3 sisters may create problem.
 




2. Can any of the Sisters object later and stop the Transfer of property and deed registration ?
Yes. If not sisters, their legal heirs can.

3. Will they have any Right of Claim in that Property later , though the deal is done with full documented consent
 of Parents and sisters and the Money is paid in advance ?
See, the deal is pre-mature. No cause of action arisen. The parents are alive. The share would be distributed after

the death of the parents and you are doing it during their life time.



4)The property is not heridatry property and was fully purchased and owned by my father . Can Parents change this Will by paying back this money at anytime if they wish so but without our express Consent .


Yes, parents can change the Will at any time during their life. In case the property is in the name of your father, after the death of your father your mother would have only 1/5th share and she would not be the owner of entire property after the death of your father.






Asked 22 minutes ago in Property Law from Qatar

1. Property is not registered but the deed of conveyence transferring the title of the property is registered.

2. Neither your sisters nor you have any share of  your parents  property till trhey are alive. so, paying your sisterd share of Rs.25 l;akhs does not arise.

3. You can straigntway buy the property from your parents paying them the agreed amount and register the sale deed.

4. Your parents can gift rs.25 ;laklhs each to your sisters.

5. Alternatively, your parents can register a gift deed in yiour favour and you can also gift Rs.25 l;akhs each to your sisters and all your sisters can be the witness of the gift deed.

6. Parents can change their will any number of times even after registration of will. so, gift deed will be idea for you as suggested above. 

1. They can give a relinquishment deed now.

2. No

3. If 1st step is done then they can not claim anything later.

4. Yes they can do so. In light of one recent judgment of Bombay HC they have this power.

regards

1. See since parents are sole owner they can gift you the property or better is you pay them consideration of 75 lakh make sale deed and parents can give amount to the daughters. Or also if you have trust they will not change the will they can make a registered will in your favour and you can pay sisters 75 lakh.

2. SInce parents self acquired property sisters cannot object later if there is registered will in your favour,

3.  See registered document for settlement should be prepared and the property should be registered in favour of you to avoid the conflict.

4. They can even change will without returning the money. 

If you are going to pay 75 lacs price to anyhow to parents name than why to register property later on your name or make a WILL.

One should registered property now so you shouldn't have to face any problem in the future including sister and the government registration and stamp duty, because today's rates are different and after 15 years or later dates rates will be different.

Without paying anything you can ask your parents to register a WILL on your name as it's sole owned property, here sisters can't do anything. Only you need to registered this WILL if you make it as of now.

Looking at your parents age are they fit to do such transcations or mentally and physically good to do WILL or SALE DEED transcations etc.

better execute gift deed or sale deed , will can be challenged in court of law and also will can be change number of time,  it is very risky. 

1. if the property is owned by your parents and if during their lifetime it is transferred to you against valuable consideration, then no consent whatsoever of any of the sisters is needed

2. you or your sisters have no right in your parents property so long as they are living

3. you and your sisters can claim in that property only after they have passed and provided they have not left any Will by which they have bequeathed the property to any person of their choice or they should no have sold the property to someone else during their lifetime

4. the entire exercise described by you in your query is of no consequence 

Hi,

It is suggested to get the registration now and not to wait for future because after getting the money and sell out their share, the sisters or her legal heirs will not be able to demand anything from you in future in relation to those properties. After the deed, the parents may also not be in position to interfere with that property. 

1.  This may not be a good idea of getting the property transferred to your name at a later date while you pay the price now.

What if your sisters demand more money for the same property at a later date when the proposed Will becomes enforceable?

If the property belongs to your parents then the question of settling any amount to your sisters during the lifetime of your parents with regard to this property do not arise as neither they nor you have any rights in their property at this point of time, hence when the Will becomes enforceable your sister, on the ill advise of some mischief mongers around, may claim a share in the proeprty or demand more money, if refused they may not sign NOC or they may even file a partition suit, at that time this settlement amount may not be considered as a legally valid item.

It is better you ask your parents to execute a registered Will in your favor now itself and can recite in it that you shall pay them the amount what you have proposed to give them now at the time of enforcement of this Will as their share in lieu of a share in  the property. 

This arrangement may be a safer mode for now instead of worrying about the possible litigation in future in this regard besides settling an amount now itself to them.

Alternately you can ask your parents to execute a registered sale deed in your favor for the proposed amount now itself, and lt them keep the money with them till their lifetime which can be bequeathed equally to all their children by a registered Will after their lifetime, so that the property is also safe and your share of money is also safe.

 Discuss with an advocate in the local and decide further course of legal action in this regard.

It is valid but the documents with your sister should be executed as registered relunquishment deed in your favor that they have relinquished their rights in the said property

Dear 

1. Yes it is legal to pay now and register later because the transfer is between the family as settlement.
2. Yes she can object if you don't do the documentation for settlement now.
3. If you do all the documentation of the deal and get the consent of your parents and sister on documents then your sisters lose the right in the property from the date of documentation.
4. If the property is self acquired by your father he can change the will any time he wants to but if you make a clause in the settlement deed that he will not change the will without paying back the money paid to you sisters for settlement of the property then he have to pay you the money back before changing the will.