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What is the procedure for family partition
27-Aug-2023 (In Family Law)
I am a catholic christian from kerala, and my father is planning to partition family property to me and my brother but the rights will be only given after his death. We have 2 house as family property 1 is in father name which is grand father property and other is in mothers name which is built by my father. Father decides to give his property yo my brother and my mothers property to me. Please advise the type of agreement i have to ask father to make so that i am safe. As my mother has chances later changing decission.
Both of them can create a settlement deed in favour of you and your brother by reserving their life estate in the property. So the absolute ownership comes you only after their death. Once is registered they can't to change the deed unilaterally
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Adv. Ajay NS
Ernakulam | 200+ Answers
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From the facts stated, one property belongs to your father and other, to your mother. It appears that you and your brother are the only children. Your parents are entitled to dispose of their property at their discretion during their lifetime. Now that they wish to settle the matters, a family settlement involving all the family members could be executed.
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Adv. P Venu
Vaikom | 500+ Answers
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It would be better to go for the SALE DEED if you are afraid for the chance of changes in the decision. But here the problem is that the deed should be unconditional.No right should be reserved to the seller. So in my opinion, you go for the Registered SETTLEMENT DEED.
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Adv. Sindu R Kurup
Kannur | 200+ Answers
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madam
settlement deed can be executed by both your parents based on family arrangement.mutatio can e effected reserving life interest to your parents.
a joint irrevocable will by your parents also is advisable .
settlement deed can be executed by both your parents based on family arrangement.mutatio can e effected reserving life interest to your parents.
a joint irrevocable will by your parents also is advisable .
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Adv. B Vinod
Ernakulam | 25+ Answers
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