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I would do a post_save signal function. So everytime you update Child Model it will trigger that function and you can change the Parent model:
from django.db.models.signals import post_save
# method for updating
def update_parent(sender, instance, **kwargs):
parent = Parent.object.get() #the parent you need to update
parent.modification_date = instance.modification_date
parent.save()
# register the signal
post_save.connect(update_parent, sender=Child)
๐คViroide
Source:stackexchange.com