Settlement deeds registration regarding

Seetha D C (Querist) 09 May 2013 This query is : Resolved
We have 4 properties all are self acquired and they are standing in different names. We are five in the family. Myself, my husband, two daughters and a son. In the order of family tree starting from my husband, we name them as A,B,C,D & E.

Property 1 is in the name of A&D
Property 2 is in the name of A&B
property 3 is in the name of A&E
Property 4 is in the name of B&D.

Myself and my husband wish to execute a settlement deed in favour of our children inheritable after our demise. As per the understanding property 1 and 3 to go to D, property 2 to go to C, and property 4 to go to E.

Now I wish to know whether is it sufficient to execute one consolidated settlement deed in favour of all the children who will also join as signatories to the settlement deed OR should we get the share in the properties standing in the name of children released/gifted to parents and then execute the settlement deed. In such a case two properties will come in the name of A and two properties will come in the name B.

Is it necessary to execute separate settlement deed for each property or is it enough if we execute one consolidated settlement deed. Three properties come under one Registrars jurisdiction and one property comes under other registrars jurisdiction.

We are not in favour of writing a will.

Shall be thankful to get a detailed reply.

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Devajyoti Barman (Expert) 09 May 2013
Yes, you can execute one comprehensive single family deed of settlement where both of you can devise ways to settle the properties in favour of your son and daughters in manner you like.
Keep in mind you can not oust a legal heirs from his/her due share in particular property and give to another.
You can settle only in respect of your( parents) respective shares.

The deed is compulsorily registrable.