Family settlement
ajay kumar
(Querist) 25 March 2015
This query is : Resolved
I and my brother and two cousin brothers who are entitled to equal rights in ancestral property that is 25 percent each.But due to some disputes, with unanimous consent of all parties I intend to make a family settlement where I will get 30%, my brother will get 30 percent and my two cousin brothers will get 20 percent share each.
My question is
1) Is this settlement valid in court of law.
2) Is this family settlement will have to be registered.
3) Or simply putting the same on stamp paper and getting it notorised will serve the purpose. Whether such notorised agreement will be held valid in court of law or not,
4) Once the agreement is done can any party move to court for cancel the agreement.
Dr J C Vashista
(Expert) 25 March 2015
Answer to your Q 1 & 2 is affirmative (yes)whereas rest two questions have a negative (no)reply.
Devajyoti Barman
(Expert) 25 March 2015
Get the deed of settlement registered without which it would not be valid.
Rajendra K Goyal
(Expert) 25 March 2015
Settlement is valid in court and need be registered. Once registered it is to be accepted by all parties. Notarized settlement deed is not valid.
ajay sethi
(Expert) 25 March 2015
deed of family settlement has to be duly stamped and registered
SAINATH DEVALLA
(Expert) 25 March 2015
First U said 25% each was the agreed ratio, U say some disputes started, again U and Ur brother 30% each and UR cousins 20% each,was the present ratio agreed by UR cousins.If so get it registered to avoid future complications.
T. Kalaiselvan, Advocate
(Expert) 28 March 2015
The percentage of sharing is purely on a consensus arrived between the disputing parties, if the same has been agreed upon mutually by all the parties, the so arrived partition may be registered with the local registrar's office to make it legally valid. A notarised deed will not have much legal validity and can be disputed anytime.
