Hello everyone, My elder brother passed away last April due to Covid and he has a family with details below: Wife, first daughter (married), second son (unmarried), Third daughter(married). My brother's family is having disputes in order to get their shares in the properties and cash that my brother owned. After multiple gatherings and meetings, the eldest daughter agreed to take 15 lakhs cash and some promissory notes of 35 lakhs of my brother-in-law (customs super-intendent) who owe money to my brother. My brother's son and other legal heirs agreed to pay 15 lakhs of cash and promissory notes of 35 lakhs to the eldest daughter and settle the matter. In this process, we need your help in creating a legal agreement that will help us in avoiding the future problems or situations with elder daughter. Please advise us what is the best way to approach this. This legal agreement or document should protect us from future court cases in case if this elder daughter claims money for any reason such as new properties or cash discovered. This agreement should take away all the rights from her for any future claims. She should also cooperate in legal filings such as legal successor certificate so that my brother's son and other legal heirs can sell the properties without the elder daughter creating any problem. I am looking for some robust legal agreement that will help us from elder daughter to come in future and bother us even if she can't recover money from my brother-in-law who owes 35 lakhs (through promissory notes). Can we take signatures on legal succession forms now itself to avoid problems in future. Any sample agreements, ideas or suggestions are most welcome. If you are an attorney / lawyer in hyderabad and would like to help us with your services, please let us know we will be glad to take your services. Thanks so much.
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A family settlement has to be made and registered with the registrar office.
This agreement would elaborate upon all the rights of all legal heirs upin tge movable and immovable property.
It would then state the liabilities and a way to pay in lieu of those.
It should then be registered.
The succession certificate should be obtained from the district court. All this should be mentioned in the agreement.
There are number of lawyers on this website from Hyderabad intact any of them for drafting agreement
2) deed of family settlement should be stamped and registered
3) please note that you cannot make payment of Rs15 lakhs in cash
4) income tax department can impose 100 per cent penalty for making cash payments
5) sister should execute deed of relinquishment for her share in properties of the deceased father
It's better you execute a registered partition deed between you all if all are consenting. That will be best option. Otherwise partition suit is only remedy
Let the eldest daughter execute a registered Release/Relinquishment Deed for all the movable and immovable properties in favour of other legal heirs.
File a collusive suit in court
Then file consent terms in that suit and obtain a consent decree
A court's consent decree is more binding than a private agreement
If a party defaults or breaches under a consent decree he or she becomes liable for contempt of court
Whereas if there is a breach of private agreement then the aggrieved party has to file a suit for specific performance of contract which is more onerous and time consuming
There is no big problem in thus.
If all the share holders agree and arrive at consensus amicably then they can draw a family setlement or partition deed and get it registered.
In the family settlements or family partition deed, each of the shareholder can be allotted with whatever the properties whether movable or immovable is being allotted to them by making different schedule of properties and marking the allotted schedule of property to the respective shareholder accordinlgy in the said deed.
The recitals made in the said deed should be legally effective so that nobody can claim any share against each other at a later point of time in respect of the properties already settled to them as per the present deed.
You can contact any advocate of this forum of your choice and get a first handed draft of the recommended deed either family settlement or partition which can be executed with the help of a local document writer after you people have satisfied yourselves fully with the terms and conditions mentioned therein.
