Legal Question in Real Estate Law in India

Question1: Are all the 3 children have equal rights to this self aquired property ?

yes

Question 2: What is the legal Indian law says if the self aquired Property is received to us through our mother from father. This is the current scenario of this self aquired property of our father.

you brothers and sisters are equally entitled to the 1/3rd share

Question3 : Incase if all the 3 of us have equal rights, could we sell this property and divide into 3.

Yes, all three may jointly sell the property and divide the proceeds equally.

Question4: In case if I need to take this property in full after doing equal cash settlement to my brother and sister. Is this possible if the law says ? What are the correct property documents that are required in full to have full ownership rights on this property?

Yes, by way of mutual settlement you may do so. for that your brother and sister will have to execute and register relinquishment deed in your favour

Question5: Incase if my brother and sister have other property, is it possible to have a mutual understanding between 3 of us so that they could hand the current property to me. How to settle this Question5 amicably and what document ( like no objection..) is required from my brother and sister so that there would be no problem for me in future.

Same as in answer to question 4 - Relinquishment Deed