Settlement
sohail mehmood
(Querist) 22 November 2011
This query is : Resolved
guide me about settlement .How and when it can be made ?
Raj Kumar Makkad
(Expert) 22 November 2011
It depends upon dispute and agreement, if any executed between the parties to settlement.
Bring facts of your matter enabling to tel you relevant provisions of law.
bhagwat patil
(Expert) 22 November 2011
When both partis get tired of litigation compromise between those is called Settelment.
prabhakar singh
(Expert) 23 November 2011
A settlement with reference to your question
can be made even before any dispute has emerged really.
Suppose one party asks the other party about a right which he really does not have and the other party knowing fully that his claim is wrong admits and fulfills it,then of course the other party has arrived at a settlement in its own mind and the other party shall be understanding it in his mind.
Such settlements may emerge between close relations such as between parents and wards,among siblings,between spouses or nearest friends.
The settlement of the kind stated by me above may emerge in several meetings after exchange of several negotiations or by any private facilitator,we call arbitrator or mediator.
Or all that fail and disputes reaches door of court and there the settlement takes place.
All these positions would in my mind should be called settlement then.
I am saying so because settlement simply means only ACT OR STATE OF AGREEING,the word does not necessarily means dispute resolution by court compromise as commonly our legal fraternity or people connected with them think so.
Raj Kumar Makkad
(Expert) 25 November 2011
Prabhakar singh has mentioned the meaning in some more contexts.
prabhakar singh
(Expert) 26 November 2011
Makkad has rightly understood my convey.
sohail mehmood
(Querist) 26 November 2011
thanks respected members for guiding me.
i was trying to ask some essential conditions for settling property as provided in stamp act.Also difference between gift and settlement of the property
prabhakar singh
(Expert) 27 November 2011
Then Mr.Sohail mehmood!
Should not your first question be this one itself?
In a gift the ownership vested in donor passes to donee on his accepting the gift then and there.
A settlement deed deed settles shares of different parties in a property as they agree
to allocate.
As regards to STAMP DUTY it is a revenue that is collected by states hence each states have enacted their own law with regard to duties and duties fixed by them have no uniformity not even any rationale behind,then we must not connect meaning of a gift with regard to stamp duty as in west Bengal as Mr. Barman tells it is perhaps simply 1/2%and in UPthe same is about more or near 8%.
