I have a shop in joint name of me n my father. when I was minor my father did power of attorney of rest property n this shop as joint on his n my name.my 6 brothers n sisters can claim on it or not.my mother is still alive c. she is in my favour. what should i do to have entire claim on it.
2 Answers from Attorneys
Dear Sir / Madam,
Presently since the shop is in joint names of you and your father, you have the following options :
1. If you wish to pay off your father's share in the shop, you can negotiate a price with your father and financially settle him off and get the shop in your sole individual name or;
2. You can get your father to make a Will of his share in the shop in your name, naming you as the executor in the Will.
Yes, your brothers and sister's can later on legally claim your father's share in the shop, if you do not follow steps outlined in (1) or (2) above.
If the property was acquired solely from the resources (money) of your father, then all your brothers and sisters shall have a claim over it, irrespective you being a joint holder of the property.
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