Deed of family settlement should be signed all family members
2) it should be stamped and registered
3) un registered deed is not admissible in evidence
Registration of Family Settlement Deed and Stamp Duty
From discussions in this forum it is evident that a family settlement deed is preferable to a Will. I have a few questions: 1. Do all family members have to sign the deed? 2. Does the deed have legal sanctity without registration? 3. If no beneficiary objects, or not likely to object, will an unregistered deed be as effective as a registered deed? 4. If the deed is to be registered, is stamp duty mandatory to be paid. Can't it be registered as a simple document?
Asked 4 years ago in Property Law
Religion: Hindu
9 Answers
5. Will the same property settlement deed take care of moveable and immovable property? 6. Can cash in hand and cash in bank on a certain date, jewellery, furniture, other stuff also be divided?
Asked 4 years ago
Yes all family members who are legal heirs need tk sign.
Without registration it will lose its effect
Only if there is no dispute then it's effective. If any one disputes then it will not have any effect. During sale buyer can ask you about registered deed only as registration is mandatory.
Yes stamp duty and registration is mandatory
It can mention about movable and immovable property
2) jewellery ,furniture money lying in bank accounts be divided
1.If the proposed family settlement deed involves all the members of the family, i.e., if all the family members have been allotted with a share in the proeprty through this deed, then all the members who have been named in this deed should sign before the concerned registrar's office
2. Unregistered settlement deed is not legally valid
3. No.
4. The applicable stamp duty has to be paid for registering the document.
5. You can make different schedules in the deed involving both movable and immovable properties.
6. The settler can decide about settling all his assets in the manner and procedure that he may desire to adopt.
1. YES
2. As per Supreme Court, a family settlement is mandatorily not need to be registered, however if the Family settlement deed is related to sharing of property , then it should be registered. .
3. YES
4. Stamp duty is needed .
5. YES
6. yes
1. Yes
2. Yes
3. Yes
4. Nominal stamp duty if no property is actually being transferred under the deed. However if any property is actually transferred then stamp duty gets attracted
5. Yes
6. Yes
Dear Querist
My opinion on your queries are as under: -
1. Yes, all the family members/shareholders will have to sign the settlement Deed.
2. Yes, the Family Settlement Deed is valid even if not registered.
3. Yes, the unregistered deed will be as effective as a registered Deed.
4. Yes, stamp duty will be mandatorily required as per Govt.'s rules regarding stamps.
5. Yes, the family settlement Deed can be executed for both movable and immovable properties.
6. Yes, cash in hand or in the bank or all other articles or stuff can also be divided by executing the Family Settlement Deed.
Feel Free to Call
Dear client,
1) all those who will claim interest should sign.
2) No
3) no
4) yes, stamp duty is needed
5) yes when it is explicitly mentioned in the deed
6) can be
Thank you
