Clarification regarding right of relinquishment in Ancestral property.

My grandmother's property was transferred jointly to my father and my father's younger brother with 2/3rd and 1/3rd share respectively. My brother had debts outside. He had given blank cheques and bonds. My doubt is if he doesn't clear his debts, whether our 2/3rd share goes to encumberance in the court if his creditors file a suit on him ? If we make relinquishment deed on right of ancestral property now, will it be valid in the court of law for all future purposes ? Shall we get any problem from my brother or from any third party in future if relinquishment deed is made without consideration and clearing his debts by us privately ? Our religion is Hindus.

Answers (1)

115 votes

Better to file partition suit between you and your brother. Then your brothers debts won't attract you.if relnquesh takes place then if that 1/3 share in not sufficient then it may come your 2/3 share also.

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