My grandfather left a property to be distributed equally among his 5 sons as per his will after his death in year 2007. Its value in 2010 was approximately 1 Crore.
My uncle and his family was living in that property with my grandfather and are still living there. My uncle paid me 5 Lacks rupees in year 2010 as full and final settlement of my share after self evaluating that property. While as per actual land rate in 2010 my share would have been around 25 Lacks.
I kept the money however asked him for rest of the 20 lacks if he want the property to be registered in his name.
He filed a legal suit in 2015 against me demanding that I sign the registry for that property in his name as he had already paid my share of money. But he lost that case as there was no written agreement between us.
He filed an appeal against that judgement in 2016 asking for the refund of Rs. 4 Lacs + 12% interest, in case I do not sign the registry of the property in his name.
My father expired in 2007 and my other 3 uncles have no objection in transferring their share in that property in the name of my 1st uncle as all are very well to do and have great businesses.
My question is, as per the law can the court direct me to refund the money + interest to my uncle? Is my case strong enough? Or there is a higher probability that I might loose this suit?
1 Answer from Attorneys
when you executed the document under which you accepted rupees five lakhs, you ought to have known the value of your share. You did not mention which deed you have executed for relinquishing your share. I n the present circumstances a fair opinion cannot be given without going through the documents.