I have a wife and 3 children.We live with my parents in one house. The house we live in is jointly owned by my father and mother, who happen to be married in community of property.I also have 2 sisters who are married and live in different cities.
My parents have said that they want to give the house to me. As I understand the inheritance sharia, my 2 sisters would have a share in the house as well, and they are eager to comply with the sharia. They are settled in their own homes and are very unlikely to come and live in this house. I suggested to my parents that we come to an agreement with my sisters for me to pay off an amount in lieu of their shares while my parents are still alive so I can plan for the future and make extensions to the existing house.I also suggested an agreement that I defer taking take ownership of the house on my parents demise.
We need to get clarification on the following questions:
Is it possible to determine the share values of each inheritor prior to the demise of the parents?