Undivided property setllement

This query is : Resolved 
 

(Querist)
16 April 2018

what is the Legal difference between these two documents-01/-Memorandum of family settlement pertaining to undivided property/
02/-Agreement of family settlement pertaining to undivided property/


Ms.Usha Kapoor (Expert)
16 April 2018

First doesn't state whether the family [property is divided or not divided. Whereas 2nd one states clearly property not being divided.!st one if registered is binding on all family members who are parties to it.2nd one states while they/family members remaining undivided agree to enter into family settlement. If this is registered this also could be binding. Both can be used interchangeably and binding on the parties.

dwt (Querist)
17 April 2018

kind attention Ms Usha kapoor, please also mention the law/act -where in it is mentioned that Unregistered Memorandum of family settlement is not binding on the parties in question

Ms.Usha Kapoor (Expert)
17 April 2018

No need of any law . unregistered Memorandum Of Family settlement is not binding. Registration confers validity to it and it becomes binding. It is settled law.

Ms.Usha Kapoor (Expert)
17 April 2018

1) it is necessary to peruse deed of family settlement entered into by family members

2) deed of family settlement for division of assets is required to be stamped and registered

3) it would not be admissible in evidence if it is not stamped and registered.
Engage a property lawyer with good credentials.

P. Venu (Expert)
18 April 2018

Why so many queries? What is the real issue?



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