I am reposting this article as there was a typographical gaffe with the prior posting. My apologies.
May I request learned lawyers here to give an opinion about the validity of the following oral family arrangement.
Beginning of the Agreement written on Stamped paper
MEMORANDUM
Memorandum that on this day -----------(my mother's name) , w/o(my father's name) of (Town name) has deposited with (my name), son of (my father's name) of (town name) the document of title mentioned in schedule here to as security for the repayment of the sum of Rs.----------- advanced by the said (my name) to be the said (my mother's name) with interest for the same at the rate of of Rs.---- percent per annum from the date of these presents
The Schedule above referred to:
(Schedule)
In witness whereof I have hereunto set my hand this the ----- day of (month), year.
Signed, ( my mother's name ) (Signature)
in presence of
(my father's name)
Adendum
The mortgagor above named confirms further by these presents the handling over of possession of the properties mentioned in the schedule above referred to (my name) subject to the liability of the mortgagee in possession to pay the Corporation taxes and other dues in respect of the said properties by him alone without recourse to the above named mortgagor during the subsistence of the of the above mortgage.
In witness whereof I have hereunto set my hand this the (date)
Signature of my mother.
One of my brothers says because the Family Agreement is not regisred, it is not valid and corecing my mother to return the advanced money to nullify the above family arrangement which was in place for more than 25 years. The taxes on the alloted properties were paid in my name for more than 25 years. Kindly advice me on these matters as to whether the agreement is valid and what would be the consequence of paying property tax in my name for more than 25 years. Thank you so much.
