How can the family Settlement done and POA executed ?
Situation : My father in law has three married daughters and no son(s). He is 85 years old and has living wife who is 82 years. He wants to settle his self earned agricultural Property to his 3 daughters in equal proportions. Since he is in need of money, he wants to have selling rights during his lifetime. For this arrangement, we plan to obtain SPA from each of the daughters in his name for selling right. The issue here is, one of the sons in law is a trouble maker and would go to the extent of his wife cancelling the SPA since he is not interested in selling but wants a hold on his share.
My question is :
(1) Is there any form of SPA where 3 daughters give SPA as a single document appointing their father as POWER AGENT but at the same time, any of these 3 can't cancel SPA individually and could be cancelled only jointly.
(2) Is there any irrevocable SPA which could be adopted in the present situation ?
My father in law lives in Tiruppur district and his agricultural land in question is located in Trichy district.
Posted by :
Lawyers answer this question
For More Details Contact On
Please consult an experienced civil advocate because if you go drafting family settlement by yourself it may give rise to several issues at later date.
78 user found this answer helpful
Disclaimer : This answer is based on information given by you hence, It is just opinion of Lawyer. For specific answer you have to give details and facts and choose the Lawyer of your choice.
Lawyers: To answer this question, please Sign In
to your account or wait for admin approval.