Settlement Deed

I now want to do a family settlement for the property I own in Hyderabad. I want to execute the settlement deed in Chennai. I would like to know if this possible. Also is it preferable to execute a Settlement Deed or a Gift Deed. The stamp duty for registering the settlement deed in Hyderabad is 3% .....

Ans. You cannot execute the settement deed in Chennai. Further, recently the stamp act in A.P is amended and the rate of stamp duty on gift deed is at par with the settlement deed viz.3.5%.

Also if I execute a settlement deed and want to sell the property will the indexation benefit be passed on to the settle's .

Ans. Yes the benefit of indexation will pass on.

Thank you Mr.Prabhakar

Dear Mr.Vishal,

Thank you very much for your valuable inputs. If I own a property in Chennai than can I do the partition through a Gift/ Settlement Deed in Chennai along with my Hyderabad property.

 

Regards,

 

Vinodh

first of all remember that the family settlement does not require registration so there is no question of paying court fees... If someone wants to do partition then the partition has to be done of the whole of the property situated either in the hyderabad or in chennai. because partial partition is not valid.. In my opinion, i would suggest the father to make the registered WILL in favour the the son to whom the property is to be given...and specifically exclude the son to whom propertyis not to be given.. Nominal fees is required to be paid at the time of registration of WILL which can be made and registered at any place in INDIA irrespective of the situation of property..

 

Originally posted by :Tarun Thakur
"	first of all remember that the family settlement does not require registration so there is no question of paying court fees... If someone wants to do partition then the partition has to be done of the whole of the property situated either in the hyderabad or in chennai. because partial partition is not valid.. In my opinion, i would suggest the father to make the registered WILL in favour the the son to whom the property is to be given...and specifically exclude the son to whom propertyis not to be given.. Nominal fees is required to be paid at the time of registration of WILL which can be made and registered at any place in INDIA irrespective of the situation of property..	"

Mr Tarun

 Can you quote the section under which it is told that Registration is not mandatory for settlement deed

Dear Mr.Vishal,

 

Dear Mr.Tarun,

 

As I intend selling the property making a Will right may not serve the purpose. Your Views