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sridevi (practice)     11 November 2011

Amendment to settlement deed

Whether a registered settlement deed executed by the settlor reserving life interest can be amended so as to make it as absolute settlement to the same settle.

If yes, what is the procedure?



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 5 Replies

kumar t v s (advocate)     11 November 2011

You have not stated about the beneficiaries after the life interest.

 

If any change in  the deed adversly affect the ultimate beneficiaries adequate precautions are to be taken to make it valid.

Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com)     12 November 2011

Kumar TVS is rightly explained

MRKGANDHI (Advocate)     12 November 2011

Yes. This can be done by executing an deed of amendment where both donor and donee participate. But the requirement of acceptance and taking possession of immovable property is necessary. The document being deed of gift registration of the document is necessary. A word of caution, the settlor should have absolute ownership of the property. I hope the beneficiary in both cases is same.

sridhar pasumarthy (ADVOCATE)     13 November 2011

Dear Sridevi,

A rectification deed can be executed to the said effect.  It should be done only with the consent of both the Settlor and Settlee.  It acts as supplemental to the earlier Settlement deed 

A nominal fee would be charged for its registration.

sridevi (practice)     17 November 2011

thanks for your response.  Here in the amendement also the beneficiary/settlee is one and the same


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