1) ypu can enter into registered deed of family settlement
2) it is valid
3) family settlement deed should provide of division of all properties
4) stamp duty is state subject and varies from state to state
Regarding Partition of father's self acquired property which consists of Agricultural, non-agricultural and Industrial property. He expired intestate and all legal heirs have come to an understanding on the division of property. Please advise on the following. 1) Is it better to go for registered Family Settlement instead of Partition Deed due to ease of execution and lower cost. 2) Is Family Settlement equally valid in law for all purposes as compared to Partition-Deed. 3) Can we do partition-deed of Agricultural Land separately, is it valid due to partial partition. 4) If separate partition-deed of Agricultural Land is valid, can it be done after Family-Settlement, which includes agreement on division of agricultural land. 5) What are the registration charges for Family-Settlement and Partition-Deed in the state of Karnataka.
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1) ypu can enter into registered deed of family settlement
2) it is valid
3) family settlement deed should provide of division of all properties
4) stamp duty is state subject and varies from state to state
Dear Client,
Since your father died intestate, that is, without making a will, all the legal heirs, including you, your brother and your mother, will have equal rights over the property.
Thankyou.
1. Yes but cost is same
2. Its valid
3. It's valid in one Partition deed.
4. You can do it but you will require to pay
5. It varies
Can we register the partition deed for the agricultural land first and later register a family settlement for all the other properties including the agricultural land subsequently?
You can register deed of partition for agricultural land and later enter into deed of family settlement
Dear client,
Under the laws governing inheritance among Hindus, Jains, Buddhists and Sikhs, Class-I heirs of a property can enter into a verbal memorandum of family settlement and divide the property on mutually agreeable terms. Thereafter, you can register the partition deed.
Thank you.
As per the prevailing status both family settlement and Partition deed both cost will be the same.
If all the family members are executing either the settlement deed or the Partition deed both are one and the same in the eye of Law.
Partial Partition is valid.
4th point is equally valid, you can go for family settlement and thereafter get the partition deed registered.
charges for both the documents as per the guideline value is Rs5,750/-
regarding to your follow-up question, it is always advisable go for a single transaction rather than doing multiple documents.
If the agricultural lands lying in the same survey nos. are to be partitioned, you need to apply for sub-divisions of the survey nos. too. You may opt for a family settlement after partitioning of the agricultural lands.
1. Registered family settlement or partition deed may not make any much difference in the stamp duty when both the documents are required to be registered in order to make it legally valid, it depends on how you people mutually agree for dividing the properties left behind by your deceased father.
2. Yes, if the same is executed by a registered document, it is similar to the partition deed.
3. You can combine all the properties together and get them divided as per mutually agreed conditions, and make them as different schedule of properties to be allotted to each individual accordingly, and draw them in a single deed, so that you can avoid repeat visits to the registrar's office and registration of different documents.
Don't multiply the proceedings.
4. You can decide about it as per your understanding because proper advise and suggestions were already rendered, now it is you have to decide.
5. The stamp duty for family partition or family settlement deed are same
You have been properly advised that you can divide all the properties by combining them together and drawn by a single deed i.e., by a settlement or partition deed, now you can decide what you have in your mind to go ahead with.