It is better to execute a registered will in this case. A can make a will and can make such condition in same.
Conditions of deed of settlement
A is the owner B is the spouse C is the daughter AA) property is in the A name. instead of Will, he wants conditional settlement deed, with the following conditions. 1) property to be settled in favour of B 2) that settlement to be effected "after A's death" 3) till As death, the rental income must be to As name only BB) after the date of conditional settlement deed, can B execute conditional settlement deed in favour of C (the daughter)
Asked 6 years ago in Property Law
Religion: Hindu
16 Answers
if B dies before A, then what happens to the settlement deed?. so can the conditions as stated above be such that 1)property to be settled in favour of B 2) that settlement to be effected "after A's death" or cancell the settlement deed if B dies before A
Asked 6 years ago
1) A can execute conditional settlement deed that during his lifetime he would enjoy the rentals and on his demise B would be absolute owner of property
2) B can on A demise execute gift deed in favour of C
if B dies before A then B legal heirs would inherit her property
A cannot cancel settlement deed
better option is to execute will in favour of B and C
1. A registered "Family Settlement Deed" (without monetary consideration) can be executed with mutual consent & joint signatures of all parties, defining the property distribution, time frame and long term rights over the property.
1. Delegated power can not be further delegated and hence B can not execute any deed at this stage
Such conditions may be mentioned in the deedas to what will happen in case b dies.
everything has to be mentioned in the Settelment deed itself so that there is no dispute in future.
Regards
1. A can settle the property to B with condition that till A is alive, the rental income will be to the account of A only and settlement in favour of B will take effect after A' s death
2. another condition can be placed that if B dies in A's lifetime then the settlement deed in favour of B will be of no effect
3. As long as A is alive, B cannot settle the property to C, since B's right will crystallize only after A's death
5. if you check s.126 of Transfer of Property Act, it says that a conditional gift is valid so long as the condition does not depend on the will or desire of the donor. In your case the property will be settled in B's favour only after your demise. Death is certain. So such a condition will not render the gift or settlement void. The power to sell will surface in favour of B only after your demise and not before.
Dear Client,
Conditional settlement deed is permissible with above conditions, And to avoid anomaly, condition shall be after A`s death, B will have life interest and her death, property will settle in C absolutely.
If B dies before A than life interest will cease and settlement to C after A`s demise.
If the intention is to convey the title after one's life time it is to be done through WILL.
Once the property is settled it conveys absolute title and can be challenged only if a condition is stipulated.
If interested to talk my number is available in google.
Regards
G.Rajaganapathy
Lawyer
High Court of Madras
Yes you can but that the said settlement deed will be automatically revoked after b death and a will again be the sole owner.
Wil takes effect only after the death of the testator.
Till you can enjoy rent income and after as per your will your wife B and Your daughter C Will be legal heirs of your Property.
In case if B dies before A then A can change the will at any time and execute a will in favor of C Or in any one.
1. If the settlement is to come into force in favour of B after A's lifetime then during the lifetime of A no settlement can be executed by B.
2. If B predeceases A then property will devolve through natural succession on heirs of A unless he executes an instrument of disposition of property.
Hi,
The suitable clauses may be added as per possible conditions and will of the parties. It means, if A wishes that the property should be returned to him, if B dies before him, the same can be written and also, if A wants that the property should be transferred to C after death of B and in life time of A, the said clause in the agreement may also be added.
Since A is transferring his property in favor of his spouse by a registered conditional settlement deed with the conditions apply, the spouse shall become an absolute owner of the property after the lifetime of A.
Once she becomes the absolute owner of the proeprty she can dispose the property to anyone in any manner as per her will and wish including another settlement deed with conditions imposed in it.
Even if B dies before A, the property has already been transferred to B by the said registered settlement deed. However the conditions therein would entitle A to retain life interest in it after which the property shall devolve on all the legal heirs of B.
The settlement deed cannot be cancelled for any reason especially when the beneficiary who has accepted the registered deed died subsequently, the property shall automatically devolve equally on all her legal heirs
- As per the information mentioned in the present query, makes it clear that there can be settlement/ conditional deed in favour of B.
- But as pointed out that if B dies before A then in that case if nothing has been defined in the deed then the property will be diluted as per law of Succession.
- Otherwise, put the clause in a way which would serve the purpose according to the the need and wish of yours or the person executing the deed.