Family settlement deed
Guest
(Querist) 31 October 2012
This query is : Resolved
Immovable property can be legally and lawfully transferred/ conveyed only by a registered deed of conveyance. Transactions of the nature of GPA sales or Agreement to Sell/GPA/Will transfers do not convey title and do not amount to transfer nor can they be recognized or valid mode of transfer of immovable property vide the decision given by the Honble Supreme Court of India in the case of Suraj Lamp and Pvt. Ltd. v/s State of Haryana and another.
We desire to execute a Family Settlement Deed amongst our family members to share the properties left by our late father including one immovable property. Since it would be in writing and also include share of immovable properties, we would get it registered. However,if we do not want to dispose the house but retain it for our personal livings, will it be necessary to execute the Conveyance -Deed?If we do not execute the Conveyance-Deed, then how the municipality tax/income-tax would be payable on the said property? Except myself ,my other members of the family comprising my mother and two sisters do not come within the taxable limit.
What is the amount of stamp duty and registration charges payable for registration of the Family Settlement Deed in West Bengal?
ajay sethi
(Expert) 31 October 2012
mr bruman would be right person to guide you as he is from West bengal . see stamp duty act of west bengal
Ms.Nirmala P.Rao
(Expert) 31 October 2012
Dear Client,
You can go ahead and get executed an amicable "Family settlement Deed aND ONCE IT IS SIGNED BY ALL THE MEMBERS OF TH FAMILY WILLINGLY WITHOUT ANY INTENTION TO PLAY FRAUD, UNDUE INFLUENCE, COERCION, MISTAKE OR MISREPRESENTATION ETC, THE REGISTERED FAMILY Deed is valid and binding on all of you in the absence of these negative factors. Stamp Duty and Registration Fee would be a percentage on the total value of the property conveyed or sharede DEED IS BINDING ON ALL OF YOU.
Ms..Nirmala P.Rao
Legal Expert
