family settalment latter

Durgesh Kothari (Querist) 01 August 2014 This query is : Resolved
Dear sir, A family settalment latter of a�property can be become a tittle deed which is nottarized by a nottary. Bank can accepted this for a secured loan in act of property under section 58 f

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Devajyoti Barman (Expert) 02 August 2014
deed of settlement if put into writing has to be registered. Notarised one has no value.

Rajendra K Goyal (Expert) 02 August 2014
Settlement deed need to be registered.

ajay sethi (Expert) 02 August 2014
settlement deed has to be duly stamped and registered . notarised deed has no value

Guest (Expert) 02 August 2014
You may better ask the bank if that can accept merely a notorised document without a legally recognized stamped and registered settlement deed.

Dr J C Vashista (Expert) 03 August 2014
I agree with Dhingra ji.
However, the settlement has to be stamped and registered otherwise it is invalid.

prabhakar singh (Expert) 03 August 2014
This� mark suggests it is not your problem
otherwise agree with answers advanced with
one qualification that if the deed in question proves it to be a 'memorandum of a family settlement orally arrived at earlier'shall be treated valid and lawful for all purposes. Much depends on language used showing intention of parties and not the name given to it.

T. Kalaiselvan, Advocate Online

(Expert) 03 August 2014
I agree with the experts views, nothing more to add except to say that even the memorandum of family settlement and allotment of certain portion of property vide said settlement to a particular individual for the purpose of loan through bank, needs to be registered to prove the marketable title of the borrower.