Muhammad Haneef 21 May 2021

Property settlement

Hi,

This is regarding a query on property settlement within a family.

My father owns a property and wants to settle it to my daughter. My query is whether my father can settle it to me with condition that I have life interest of constructing building on the property, residing and letting out the same for rents and enjoying the rental benefits and other profits accruing there from during my life time without having any right to alienate, encumber and mortgage. After my lifetime the property should devolve on my daughter absolutely.

Can a Settlement Deed be done like this? Please clarify.

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5 Replies

Dr J C Vashista (Advocate) 22 May 2021

What are the terms and conditions of settlement deed ?

It is better to consult and engage a local prudent lawyer for analyses of facts/ documents, professional advise and necessary proceeding.

Muhammad Haneef 22 May 2021

Thank you for your response.

The terms and condition is that I have life interest on the property during my lifetime. After my lifetime the property should devolve on my daughter.

I want to make a Settlement Deed like this.

Can this be done as per property law.

Thanks.

P. Venu (Advocate) 22 May 2021

Irrespective of your intentions and desires, what matters is the decision of the owner of the property.

T. Kalaiselvan, Advocate (Advocate) 23 May 2021

Your father can transfer the property to your daughter's name with a condition of life interest to you and and all those conditions what you have mentioned.

This is a conditional settlement deed which can be executed by the donor who has clear and marketable title to the property he intends to transfer now.