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Vijay Shankar   07 July 2021

Settlement on stamp as per will valid before law or not

1) Can a settlement be agreed between legal heirs of a deceased as per Last registered will on him for property purchased after will making ?
2) Can the simple stamp settlement written as per intentions in the will a Valid document to get ownership of the property ?
3) Can the Legal heirs or their children challenge such settlement later ?
4) How the stamping should be done for the settlement


Learning

 4 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     07 July 2021

Once the beneficiaries and their shares, rights and liabilities are decided, the property has to be transferred in their names. For this you need to apply for property transfer at the sub-registrar’s office. “In most of the cases (documents needed are) Will; or Will with probate or succession certificate. In relation to the assets, the ownership document of movable and immovable assets are required," In absence of a Will, you may also need to prepare an affidavit, along with a no-objection certificate from the other legal heirs or their successors. If you have paid any consideration (in kind or cash) to any heir or claimants to acquire their share, do mention this in the transfer papers.

Vinod Kumar Mishra   07 July 2021

Is it possible to make will of only one land out of many in favour of a person assuming rest will be divided equally among legal heirs ?

Vijay Shankar   07 July 2021

Thanks for replying sir.

The affidavit with everyone's sign can be drafted in a manner that they agree with the settlement made in the will and Property not mentioned in the will may be treated to be dwelled according to the will, with signature and consent of all other legal heir ?

And whether simple notary of the agreement will do ?

G.L.N. Prasad (Retired employee.)     08 July 2021

The proper solution is filing a PLC and getting a compromise agreement before Legal Services Authority, and they will give the status of such agreement as "Award status" and refer to Sub-registrar to index the same.  The procedure is simple, fast and economical.   Contact District Legal Services Authority.


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