How can my father distribute his self acquired property

I am a Hindu. My father has one self acquired property and one which he got from his father. My father wants to put all his property in my brothers name and compensate me with cash. I have no problems with that. Should I sign a relinquishment deed in favour of my brother? Is it possible to relinquish something which is not mine as yet? How do we go about this family arrangement??

Answers (3)

If your family has decided this arrangement. You can sign a relinquishment deed. There is no problem in that. But be careful before signing any documents, reads the contents thoroughly and its consequences. If you are satisfied with the money your can easily hand over all the property to your brother. Be it ancestral or self acquired. All the best.

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For self acquired property, there is absolutely no issue and your father has full freedom to bequeath the same in favour of your brother fully. You could on the side demand cash of the value of the self acquired property he chooses to give you. In case of the ancestral property however, half of the share will devolve upon you once your father leaves for the heavenly abode. You could then relinquish your right via a deed in favour of your brother and take cash instead. Even now you can do a family settlement agreement and get it registered for the ancestral property division, but it will only come into effect once the relinquishment deed is signed and the share of the ancestral property devolves upon you after your father's bereavement.

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If every thing is settled in your family like who will get property and who will get cash then all of you should go witha family settlement and you will relinquish your right over property in Liu of cash.
Kind regards

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