As you had mentioned that your father inherited this property through a family settlement and got it mutated to his name, now the property becomes your father's self acquired proeprty, thereby his own and absolute property.
Therefor your father is the authority for this property and he can rightfully transfer this property to anyone of his choice and in the manner he desire and decide.
Therefore your brother cannot object or restrict your father in any manner from transferring this property in the manner your father decides including settlement.
Since, your father has obtained said land through settlement deed , then after receiving this land ,it will considered as self acquired property of your father.