There is an ancestral property (residential flat in a housing society) within the identify of my grandfather, who is deceased. His spouse (my grandmother), son (my father) and elder daughter (my elder aunt) are additionally useless. My uncle, my youthful aunt and my mom are the successors of this property. We have mutually and amicably determined within the family that the mentioned property will probably be transferred in my identify. My youthful aunt has determined to not take any share. My mom and I and my uncle are the 2 events left. Between us, we now have mutually agreed that I’d pay 50% of the property value to my uncle when it is transferred to my identify. Please information me relating to the process that must be adopted in order that the switch takes place within the shortest time potential. How can I save pointless prices (if legally potential) because the matter is undisputed?
—Name withheld on request
It is clarified that below the idea of “ancestral property” as relevant to Hindus, at any time when an ancestor inherits any property from any of his paternal ancestors as much as three generations above him, then his authorized heirs as much as three generations beneath him would get an equal proper as coparceners in that property.
Based on the info offered, it is assumed that your family is ruled by Hindu private legal guidelines, and all of the deceased family members have handed away intestate i.e. with none wills and there are not any family disputes among the many three generations and their particular person households. Based on the restricted info, we perceive that your grandfather had 4 youngsters: your father, (deceased son), your elder aunt (deceased elder daughter), your uncle (alive) and youthful aunt (alive).
At current, your uncle, your youthful aunt and your mom are the surviving authorized heirs of your grandfather and that you simply inherit the rights to the property by your father.
However, because it is an ancestral property and assuming that there was no family partition amongst your father, uncle and aunts, all of them together with their respective spouses and kids (your cousins) have a share within the flat. Hence, it is advisable to have a family arrangement agreement in respect of the flat whereby all surviving family members consent to the flat being transferred in your favour and your uncle receiving 50% of the property value.
Aradhana Bhansali is companion, Rajani Associates. Queries and views at firstname.lastname@example.org