* Self acquired property (which is land and a bungalow on it)-owned by husband and wife.
* Both of them jointly want to execute a Settlement Deed, in respect of this property creating an undivided share in favour of their 2 children(2 daughters) equally.-1/2 share each.
* They want to reserve a life interest and reserve the rents, profits etc arising out of the property to themselves, till their lifetime.
* They want to get the settlement deed registered , to avoid future confusion among children. Will can solve this...but probating the settlement easy and faster..will probation may take long time and expensive also.
QUESTION 1. Can you execute a conditional settlement deed?In this case condition being reserving life interest.
QUESTION 2. Can the Settlement deed be registered immediately?Are the children's signatures needed or only the husband/wife, as owners ,can register?
QUESTION 3. Can the Khata be retained in the husband and wife's name only,after registration.?
QUESTION 4. Can the Khata be transferred in the 3 children's name jointly after the husband/wife's lifetime.?
QUESTION 5..Can the husband /wife revoke the Settlement deed in future?
