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Discussion > Property Law > Settlement can be made between a brother and sister??   Unanswered Threads Post New Topic

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There are 4 Replies to this message


Mahesh


None
[ Scorecard : 58]
Posted On 27 March 2013 at 10:40 Report Abuse

My Grandfather had a self acquired property in Chennai, Tamil nadu. He divided the property and made settlement deeds to three of his son and one daughter.

now my question, The daughter need to exchange the land to one of his brother's land. 

So, a settlement Deed can be made in between a brother and sister?? i just want to make sure we don't spend too much on this??  or what is the better way to settle this without paying too much???

Because, exchange /Gift deed has the same stamp duty like the Sale deed.

But settlement deed is just a max of 10,000 Rs. 

 

 



Adv Archana


Practicing Advocate
[ Scorecard : 11285]
Posted On 27 March 2013 at 16:58 Report Abuse

If the settlement deed is already made by the father and the property is already mutated in the respective names then, in  the above circumstances, in my opinion the answer is NO. Go for exchange deed.


Mahesh


None
[ Scorecard : 58]
Posted On 27 March 2013 at 17:01 Report Abuse

Thanks for the reply. But the problem is the exchange deed stamp duty would cost almost same as the sale deed. and The sister need to pay both the transcation fees. 

If we go for settlement deed, what problem will come?? 


Adv Archana


Practicing Advocate
[ Scorecard : 11285]
Posted On 27 March 2013 at 17:15 Report Abuse

A settlement deed is made for the purpose of distributing property of the settlor among his family or those for whom he desires to provide. So, when already the property is distributed and seperated, how can a settlement deed be executed? Settlement deed cannot be executed to get ownership over each other's property, that will amount to exchange.


Mahesh


None
[ Scorecard : 58]
Posted On 27 March 2013 at 17:18 Report Abuse

Ok. Here is my final question:

1. Since the property is settled already to brother and sisters. They are the respective owners now right.

2. Why not the new respective owner(Brother) of the property again make a settlement to his sister?? 

Or 

Let us assume like this. A son Got a property from his father (Self acquired property of the father) thru settlement. He want to give that property to his own sister. In this condition, a settlement can't be made???

 

 

 




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