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Which deed should be execute for property development among brother
29-Nov-2023 (In Property Law)
we are 3 catholic brothers owning a plot of land. since we could not develop on our own, we entered into agreement with a builder to develop and as compensation for his development we agreed to give him 50% of the built up area(3 flats).The builder has completed the project and now what agreement we have to execute with the builder for his 50% of the built up area. Out of the owners 50%, (3 flats)one brother wishes to retain his flat while the remaining brothers wish to sell their flats. What deed has to be executed amongst the brothers so as to enable one brother to retain his flat.
If the property was jointly owned by by your deceased father and if the property has been mutated in your mother's name she can divide the property as she wishes.
Now your brother has no right .
If your brother approaches the court he will get only 1/5th of the 50% of the whole property as all children including the wife have equal share in the father's portion of the property as he died intestate
If the property is still in the joint name of your mother and deceased father as mentioned earlier your brother can claim only 1/5 of the 50% of the whole property.
Advise your mom to make a decision and act accordingly.
The options are she can gift her part of the 50% equally between the two of you after getting NOC from both the sisters and divide the rest equally as well.
Now your brother has no right .
If your brother approaches the court he will get only 1/5th of the 50% of the whole property as all children including the wife have equal share in the father's portion of the property as he died intestate
If the property is still in the joint name of your mother and deceased father as mentioned earlier your brother can claim only 1/5 of the 50% of the whole property.
Advise your mom to make a decision and act accordingly.
The options are she can gift her part of the 50% equally between the two of you after getting NOC from both the sisters and divide the rest equally as well.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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