Power of alienation
TKN
(Querist) 13 February 2015
This query is : Resolved
Dear Sir
My father wrote settlement deed in my favour and registered the same. He has included few clauses in it. I need clarification on the same. I have pasted the clause below.
"That this settlement shall take effect only and immediately upon the lifetime of the settlor upto which date the settlor shall continue to enjoy the property as its sole, absolute and full owner with absolute powers of alienation."
Is above statement means that he can sell the property anytime without the knowledge of the settlees ?
Thanks
Dr J C Vashista
(Expert) 14 February 2015
@TKN,
Why did the settlement arrived for what consideration? Whether the property involved is ancestral or self-acquired of your father? If ancestral different opinion shall be there otherwise it would be different.
Show the document, discuss and engage a local lawyer before taking any decision for its further sale.
Dr. (Major) J C Vashista, Advocate, Consultancy Room, Lawyer's chamber Block, High court of Delhi, New Delhi-110003 and President, Aakkash Ganga Cooperative Group Housing Society, Plot No 17, Sector 6, Dwarka, New Delhi-110075 Cell # +91 9891152939 email majjagdish @ yahoo.com
Rajendra K Goyal
(Expert) 14 February 2015
Consult local lawyer and show him all related documents.
prabhakar singh
(Expert) 14 February 2015
The document created is in fact a WILL in it's nature and effect and not a transfer inter vivos .
YES!he can sell the property anytime without the knowledge of the BENEFICIARY.
TKN
(Querist) 14 February 2015
Thanks for the clarification sir
ajay sethi
(Expert) 14 February 2015
agree with prabhakrasinghji
T. Kalaiselvan, Advocate
(Expert) 17 February 2015
Agreed with the experts views, it is a conditional settlement and as per the conditions, the settler can go ahead with his proposal to alienate the property during his life time without taking the consent of the beneficiary.
TKN
(Querist) 28 December 2015
Sir,
One more question in continuation from the above context.
During recent floods in chennai my house is totally damaged and I would like to rebuild the house. Is it possible with the current settlement deed (Please refer to my initial post) ? if not, please let me know the further corrections or modifications required on top of it.
Thanks
TKN
