Sale Proceeds Settlement
4 years ago
Mother gifted her self-acquired property to her younger daughter out of love and affection in year 2015 and the younger daughter sold the property in Dec 2019 after obtaining no objection from her sister and the brother. Now she wish to divide the sale proceeds to her elder sister and brother. Please advice the legal procedure to follow.
A.Since the self-acquired property was gifted only to the younger daughter, there was no need for NOC from other siblings for sale of property. The daughter may divide the proceeds of the sale deed with her siblings as per her wish. She is not legally obligated to do so.
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