Settelment Deed

D. PERUMAN SARANYAN (Querist) 24 February 2009 This query is : Resolved
Sir,

Can any one share me a draft copy of Settelment Deed.Whether the Settelment Deed at the time of registration has to be signed by the SETTLOR and SETTLEE?

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sanjeev murthy desai (Expert) 24 February 2009
Dear Peruman,

Both parties singature should be required at the time of registration.

draft as follows

DEED OF SETTLEMENT
This Deed of Settlement executed at _______ on this day of 2003 by
hereinafter referred to as the SETTLOR of the One Part;
TO AND IN FAVOUR OF

hereinafter referred to as the SETTLEE of the Other Part; the terms SETTLOR and SETTLEE wherever occur shall mean and include their heirs, executors, legal representatives and assigns witnesseth as follows:

WHEREAS the vacant site more fully described in the Schedule hereunder was purchased by the SETTLOR herein by a sale deed dated executed by and others represented by their Power of Attorney/ Agent and the said sale deed was registered as Document .No. of Book No. volume No. filed at pages from to on the file of the Sub Registrar of and the SETTLOR herein has been in exclusive possession and enjoyment of the property more fully described in the Schedule hereunder till date ;

WHEREAS the SETTLOR is the exclusive owner of the property more fully described in the Schedule hereunder and he has absolute right to dispose of the same as he wishes ;

WHEREAS the SETTLOR out of natural love and affection he bears towards her/his son namely has decided to settle the property more fully described in the Schedule hereunder to the above said , the SETTLEE herein ;

NOW THIS DEED OF SETTLEMENT WITNESSETH AS FOLLOWS :
THAT in pursuance of the aforesaid recitals and in consideration of love and affection the SETTLOR bears towards the SETTLEE herein, the SETTLOR doth hereby settle the property more fully described in the Schedule hereunder in favour of the SETTLEE herein with absolute rights.

THAT the SETTLOR further covenants that the property more fully described in the Schedule hereunder can be enjoyed by the SETTLEE with full right of alienation.

THAT the SETTLOR further covenants that the property more fully described hereunder in the Schedule is free from all encumbrances, charges, liens, mortgages, litigation, attachment, maintenance, lispendens, testamentary disposition etc.

THAT the SETTLOR further covenants that he has paid all the rates, taxes and other revenue outgoing up to date in respect of the property more fully described in the Schedule ‘B’ hereunder.

THAT the SETTLOR has this day handed over the vacant possession of the property more fully described in the Schedule hereunder to the SETTLEE and the SETTLEE can enjoy the property as she / he wishes.

SCHEDULE
(Property settled by this deed)

The Value of the Property is Rs._________/-

In Witness whereof the SETTLOR above named has set her hand and signature on the day, month and year first above written in the presence of:

SETTLOR WITNESSES: