Sharing Property

Back Ground 1. One and a half storey house at Greater Kailash. 2. To be shared equally between 3 brothers as per will. Each of us has 2 children. 3. Mutation in all 3 names completed after mother expired on 03 Apr 18. 4. Elder brother was staying ground floor. First floor unoccupied. Broad Framework of a Proposed Family Settlement 5. Elder brother continues to stay on Ground floor, maintain the house and at earliest possible rent out first floor. Maintenance and upkeep including property tax, water and electricity bills etc rest with him. 6. Both other brothers get 50% of rent of first floor. 7. On demise of any of 3 share holders his share passes on to his wife. 8. On demise of both parents both their children become 1/6th holders. 9. Family settlement to be reworked out whenever share holders change if desired by new share holders. 10. No additions/ modifications/ sale without written consent of all share holders. 11. Family agreement can be revised if any of the share holders desires at any time. In puts Requested 12. Can a family settlement be worked out after refining the proposal to meet legal requirements? 13. What legal formalities in terms of attestation registration in court etc are required? 14. How can we take this forward?