20 April 2012
Family Settlement deed is one of the mode of transfer of movable and immovable property. It need not be compulsorily registered. but it is entirely different from Partition deed. Yes is the answer for both the questions. But be sure that by the deed of settlement you are not taking away the per-existing rights of any of the co-sharers.
21 April 2012
Dear Mr Neera Sattlement deed is not transfer of property. It only describes share of persons who are already owner of property. If yup want to give more to one that of his share, it becomes transfer deed.