Family settlement

Querist : Anonymous (Querist) 04 November 2011 This query is : Resolved
my family consist of wife 2 major son and one major daughter
i want family settlemnt deed due to some diputes of property
i have 4 properties in my own nmae. In family settlemt one property will transfer
to one daughter and 2 properties to 2 sons myself and my wife retain one
my question is family settlement will be register one
is any duty paybale on regd of deed
is my right on property go on signing the deed
can mortgage property consider in famly settlemt

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ajay sethi (Expert) 04 November 2011
Family settlement can be oral or in writing as a memorandum as what has been agreed upon between parties .

Depending on the wordings employed, facts and circumstances and other factors, it may or may not required be stamped and registered

consult a local lawyer

ajay sethi (Expert) 04 November 2011
In Tek Bahadur v. Debi Singh and Ors. the Constitution Bench of this Court considered the validity of the family arrangement. The question was whether it is requiresd to be compulsorily registered under Section 17. This Court, while upholding oral family arrangement, held that registration would be necessary only if the terms of the family arrangements are reduced into writing. A distinction should be made between the document containing the terms and recital of family arrangement made under the document and a mere memorandum prepared after the family arrangement had already been made either for the purpose of record or for information of the court for making necessary mutation.

Sankaranarayanan (Expert) 04 November 2011
yes mr sethi given good citation and hope it sufficient for your query

prabhakar singh (Expert) 04 November 2011
YES!Mr.Sethi is right.

As the family settlement as well partition can be orally made and the same is recognized
by law,then reciting those terms as letter of memorandum does not attract provisions of registration and stamps duty.

But if the family settlement or partition is taking place by a writing [but not orally]the same attracts the provisions of registration and must be registered to give the same legal effect.

Shonee Kapoor (Expert) 04 November 2011
Agreed with Ld. Mr. Prabhakar Singh ji, if it is in writing registration is a must.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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