Legal Position of Notorisation

Greetings,

Notarization is basically the process to prevent fraud and assure the parties in the transaction that the document notarized, is genuine. A notarized document helps to verify that you are the one signing the document. The sole purpose of notarizing a document is to prevent any kind of document fraud and/or identity theft. 

To answer your second query, it has been held that a compromise as is well known, is an agreement between the parties with the seal of the court super-added to it. A compromise decree, therefore, is not a decree in its true sense. It does not attract principles of res judicata.

It is necessary to submit the document.

Hope this helps you.

Merely reaching an understanding or settlement is not enough. Legal formalities need to be checked to ensure the validity of the agreement. The Settlement agreement shall be signed by all the parties involved in it. A missing signature can easily become ground for challenging the document in court at a later date. A settlement agreement may also be signed by 2 witnesses although not necessary.

After the signing of the agreement by the parties, the parties shall register the agreement if the subject matter of settlement is immovable property. According to Section 17 of the Indian Registration Act, a family settlement that purports to assign immovable property must be mandatorily registered or the deed would be invalid. Stamp duty shall be levied on the agreement based on the value of the property.