Property Division Without a Will: Inheritance Laws Rule, Not Family Understanding

• Without a will, property divides by inheritance laws, not family agreements, often leading to disputes.
• If a parent dies, their property is equally split among legal heirs (spouse and children).
• Sibling buying another's share is a "family agreement" via release/settlement deed, not a new property purchase.
• Section 54 Capital Gains Tax exemption for new property may not apply when buying a sibling's inherited share.
• Exemption depends on transaction specifics and documentation; courts have granted it in genuine cases with proper sale deeds.

Why It Matters: Understand inheritance laws and tax implications for property division and sibling share purchases.