Family Agreement and Settlement

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Create, eSign, approve and settle. Legally correct documents that help you to settle. Settle everything even if a person is abroad. Legally valid documents at home. Whatever you write, shall be a story.

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Category1

Deed of Family Arrangement 2

Deed of Family Arrangement

Deed of Family Settlement 2

Deed of Family Settlement

Deed Recording Oral Settlement

Father to son Settlement Deed

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List Of Documents Required

property2, Agreement with Advertisement Agent, Advertisement & Media, Partnership and Founders, Trusts and Wakfs, Hire-Purchase, Sale of Goods, Receipts, Hypothecation and Pledge, Cancellation of Instrument,Will, Family Agreement And Settlement, Exchange of Property​, Indemnity Bond, Bonds, Indemnity and Guarantee

Settlement

  • Completely filled Form A with signature [Form A of the Delhi Stamp (Prevention of Under-valuation of Instruments) Rules, 2007)
  • Original Documents with one set of Xerox copies
  • Two Passport Size Photographs on both copies of documents (all Parties)
  • Original ID Proof of the concerned Parties (all Par ties and Witness) like Voter card, PAN card, Pass port, Driving License, Adhar Card and in case of companies, power of attorney/board resolution
  • e-Stamp paper with correct value of Stamp duty
  • e-Registration fee Receipt of Registration fee with undertaking / Affidavit
  • Title document
  • If transaction is for more than Rs. 500000/- self at attested copy of PAN Card or Form 60
  • In case of agricultural Land, NOC required

AADHAAR No. If Available

req2, Receipts, Family Agreement And Settlement, Relinquishment / Release Deed without consideration, req2, Cancellation of Will, Will

Release / Relinquishment with consideration

  • Completely filled Form A with signature [Form A of the Delhi Stamp (Prevention of Under-valuation of Instruments) Rules, 2007)
  • Original Documents with one set of Xerox copies
  • Two Passport Size Photographs on both copies of documents (Releaser, Releasee)
  • Original ID Proof of the concerned Parties (Releaser, Releasee & two Witness) like Voter card, PAN card, Passport, Driving License, Adhar Card and in case of companies, power of attorney/board resolution
  • e-Stamp paper with correct value of Stamp duty
  • e-Registration fee Receipt of Registration fee with undertaking / Affidavit
  • Death Certificate of the original owner
  • Family or legal heirs details
  • Title document
  • If transaction is for more than Rs. 500000/- self al attested copy of PAN Card or Form 60
  • In case of agricultural land NOC is required from concemed LAC through SR Office
  • AADHAAR No. If Available
relinquishment, Trusts and Wakfs , Partnership and Founders, Sale of Goods, Will, Receipts, Family Agreement And Settlement, Release / Relinquishment with consideration

Relinquishment / Release Deed without consideration

  • Original Documents with one set of Xerox copies
  • Two Passport Size Photographs on both copies of documents (Seller & Purchaser)
  • Original ID Proof of the concerned Parties (Releaser, Release & two Witness) like Voter card, PAN card, Passport, Driving License, Aadhar Card and in case of companies, power of attorney/board resolution
  • e-Registration fee Receipt of Registration fee with undertaking / Affidavit
  • Stamp duty Rs. 100/
  • Death Certificate of the original owner
  • Family or legal heirs details
  • AADHAAR No. If Available

Frequent questions, quickly answered.

Family agreement or settlement

Though a family agreement or settlement has not been defined statutorily under any India law. Halsbury’s law of England defines it as “an agreement among members of the same family. Intended to generally and reasonably for the benefit of family either by compromising doubtful or disputed rights. Moreover, by preserving the family property or the peace and security of the family by avoiding litigations and disputes related to family property. What it effectively means that the members of a family arrived at a mutually amicable understanding either in written or verbal regarding movable or immovable property to avoid any existing or future disputes.

Distribution of property

When it comes to distribution of property, a family agreement need not be a single legal document but can be a series of documents describe the property rights of each other. As for taxation regarding the inheritance, since an agreement is not considered a gift or transfer under the income tax laws such a family agreement does not entail any capital gain tax.

A family settlement agreement is valid, legally binding and enforceable contract which is applicable to all the signatories. An oral agreement recorded as a memorandum between the family member is also admissible in court. If it is the written agreement, it should be signed by all the family members involved and should preferably be attested by two witnesses.

As per section 17 of the “Indian Registration Act” if it is a written agreement it should be registered to be admissible in court in case of a written agreement which is intended to serve as proof for a particular arrangement or where legal rights of the members changes, or the transfer or distribution of immovable property is involved the document needs to be mandatorily registered.

An agreement, once it has been executed cannot be revoked without a court decree but it can be challenged in court. It can be challenged on the grounds of fraud, coercion, misrepresentation of facts and improper execution among other reasons which can prove to be the grounds to challenge a family settlement agreement in the court.

Difference between a will and a settlement agreement:

Neither of the instrument is legally superior or better than one another, because the purpose and execution of both are completely different while a will decides how a person wants his assets to be distributed after his death on the other hand the purpose of a settlement agreement is to avoid disputes over inheritance through an amicable consensus among the members. So, an agreement often helps to deal with contentious issues arising from a will. While there are more strict requirements for drawing up a will compared with an agreement, the letter enjoys high sanctity and credence in court.

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