Sekaran (Prof) 11 February 2013

Conditional settlement deed

* Self acquired property (which is land and a bungalow on it)-owned by husband and wife.
* Both of them jointly want to execute a Settlement Deed, in respect of this property creating an undivided share in favour of their 2 children(2 daughters) equally.-1/2 share each.
* They want to reserve a life interest and reserve the rents, profits etc arising out of the property to themselves, till their lifetime.
* They want to get the settlement deed registered , to avoid future confusion among children. Will can solve this...but probating the settlement easy and faster..will probation may take long time and expensive also.

QUESTION 1. Can you execute a conditional settlement deed?In this case condition being reserving life interest.

QUESTION 2. Can the Settlement deed be registered immediately?Are the children's signatures needed or only the husband/wife, as owners ,can register?

QUESTION 3. Can the Khata be retained in the husband and wife's name only,after registration.?

QUESTION 4. Can the Khata be transferred in the 3 children's name jointly after the husband/wife's lifetime.?

QUESTION 5..Can the husband /wife revoke the Settlement deed in future?

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2 Replies

K. GOPALAKRISHNAN (ADVOCATE) 11 February 2013

Dear Querist, 1. Conditional Settlement Deed can be executed. 2. Yes, it can be registered immediately. 3. Khata can be transferred in the name of the children after the lifetime of the parents. 4. Being vested interest, Khata cannot be transferred in the name of the children. 5. Settlement cannot be revoked as per the recent apex court judgment.