All excellent points. You do have all the leverage here, not film student guy.
> Personally, I still wouldn't take the deal because it sounds like your "partner" is adversarial.
This is what stood out most in my mind as I read the OP. I wouldn't go into business with anyone that I didn't trust like my own brother. If he is trying to make you sign some 17 page contract as a college kid, imagine what would happen if there were ever any real money to divvy up.
The contract, I suppose, was a standard one from a laws/contacts database. So don't worry much about the layer father.
It might be that father has told the son what is best to do (to buy all the rights for the copyrighted material), and the son trusted father's authority.
I don't know if in your country a vocal contract has any power. Right now you can prove that this material is under your copyright, but he can't prove that he payed you for _all the rights_. So in my legislation system you'd still have 100% of control over the situation.
> Personally, I still wouldn't take the deal because it sounds like your "partner" is adversarial.
This is what stood out most in my mind as I read the OP. I wouldn't go into business with anyone that I didn't trust like my own brother. If he is trying to make you sign some 17 page contract as a college kid, imagine what would happen if there were ever any real money to divvy up.