Settlement deed in tamilnad
N RAMASWAMY
(Querist) 24 October 2014
This query is : Resolved
I have made settlement of my Flat at Chennai in favour of my elder son about 5 years back.Now my son wants to make a settlement in favour ofme or my wife. Is it permitted under Law?
ajay sethi
(Expert) 25 October 2014
once you have executed settlement deed in favour of your son he would be absolute owner of said property . your son can if he so desire execute settlement deed in your favour or his wife if he so desires
Guest
(Expert) 25 October 2014
Dear Author,Settlement Deed Executed by you in favour of Son Could be Cancelled by you For which your Son's Consent also Not Required.After two days of Cancellation you could Execute the Settlement Deed In Favour of your Wife.other wise Your Son also could Execute a Settlement Deed In Favour of his mother.Once it is done by your Son you would have No Rights in regard to that.
Anirudh
(Expert) 25 October 2014
The parties to the family arrangement must have antecedent title, claim or interest. Even if a possible claim in the property which is acknowledged by the parties to the settlement will be sufficient for the same.
Thus, when you were owning the property, there was the possibility of your son having claim over the same at a later point of time. So, the family settlement was possible and which you really effectuated.
However, the reverse (i.e. son settling the property to your wife i.e. his mother
) cannot be true. Because, the mother does not have any claim over the property of her son especially when the son is alive.
Therefore, in my view the son can only gift the property to his father or mother (cannot execute settlement deed).
In fact, why this arrangement is being thought of is not clear.
Guest
(Expert) 25 October 2014
Dear Author,Instead of getting Confused Meet the Document Writer and Request them to Draft the Cancellation of Settlement Deed Executed by you in favour of your Son and get it Registered.Your Son's Presence Not Required and after a day Execute the Settlement Deed in your Wife's Favour.Absolutely No Issues.
