Advice Needed: Father's plot (30x40) to be shared with brother

[RashmiL]

No veenay, paying money will open floods of problem. Your brother will spend it all and come back again with more vengeance to demand money. My advice is never do it. That's your doorway to hell.

[Veenay]

Hello Rashmi,

As per the suggestion I think I will get the property registered in my name and then pay the amount periodically. This wasy I can hopefully avoid future issues.

[Lalitha36]

Hello,
You would require expert legal advice on this matter. When you say you would "register the property in your name" - it's legally not valid since your dad is the owner and still alive. You would need medical records to prove his illness and make the other 3 stakeholders - your mom, brother & yourself as the new "joint" owners of the property. Following this, you would have to make a "registered release deed" wherein your mother and brother "release" their rights on the property, thus making you the sole owner of the property. You have to mention the amount you're paying to your brother in the deed and carefully word the legal document such that his heirs in future cannot have any claims on it. From my experience, this is a very tedious process. I would advise you to meet an efficient property lawyer (preferably High Court) and discuss the various possibilities, like whether the property is saleable in the first place (for argument sake) since the owner is mentally ill. Would any nationalised bank be willing to give home loan for such a property? There're many legal aspects to consider here. Forget about emotions, practical thinking is the need of the hour. All the very best

[Veenay]

Hello Lalitha,

I see that things are not as simple as it seemed.
Very grateful for your input. Thank you very much.

[Lalitha36]

It's really not my place, but still, I would like to suggest this :-
If I were you ie, an educated, responsible, career-oriented person eligible for loan at any bank - I would really not get into ancestral property hassles. I would purchase one on my own strengths or by taking loan since that new one would become my self-acquired property with myself being the sole owner and nicely passed on to future generations with careful planning.
Regarding existing father's property, even if you take all precautions and get all documents legally registered, your brother or his children, in future, would still have rights to go to court and make your life miserable. Ideally, only the real owner has the rights to pass on the property to whomever he wishes. If he's proved mentally ill, that can also be debated in court. If he's proved to be fine, that too can be debated in court. My point is, if one of the family members do not agree to the common consensus, it's always best to forego our self rights in the property, for future peace of mind. Otherwise, in future, anytime anyone can go to court and cause trouble - that is how our legal system is designed.
https://www.business-standard.com/article/international/hinduja-brothers-battle-for-16-billion-pound-family-assets-in-uk-high-court-120062400188_1.html
This article might help you understand my point - when a single family member can be influenced by anyone, all hell can break loose. Life is short and it's important to have peace of mind in that short duration

[Veenay]

Hello Lalitha,

Thanks again. The information is really helpful. Although it makes me little anxious but it really is useful. I will soon get in touch with a good property legal advisor and take it forward from there.