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Q. Family Settlement and Power of Attorney

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Venkatachalam Kolandaiya

posted 11 months ago

Q.Family Settlement and Power of Attorney
How to settle the property amongst three daughters amicably and legally ?

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, Tamil Naduand his agricultural land in question is located in Trichy district, Tamilnadu.
Posted by :
K. Venkatachalam

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Abhimanyu Shandilya

Experience: 15 Year(s)

Responded 11 months ago

View All Answers

A. ) The way your father-in-law wants to do the transaction is like going in circles. He wants to give away the self acquired property to his daughters but wants to keep the selling rights to himself by getting PoA from them. This will complicate the matter and transaction.
Better let him write a will giving equal share to his daughters and the property will directly go to them after his demise. And as long as he is alive he can sell the property when needed.

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