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ashleshmathur   10 January 2015

Settlement agreement

Hi Guys,

I intend to enter into a settlement agreement with two other parties regarding a vehicle accident that involved the three of us. Me and the second party will be compensating the third party for the damages caused to his vehicle. I intend to create an agreement between the three of us detailing the terms and conditions.

My queries are:

1) What denomination of Non-Judicial Stamp Paper should I use for making the agreement?

2) Is it compulsory to register such a settlement agreement? If yes, then where do I register such an agreement?

Any help and advise in this regard shall be highly appreciated.

Thanks



Learning

 4 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     10 January 2015

1. A mutually Settlement Deed, needs to be made on a 500/- stamp paper (or franked). 2. Settlement deed is not required to be registered. However the Settlement Deed needs to be registered with a Notary. Keep Smiling .... Hemant Agarwal READ ARTICLES ON: https://hemantagarwal21.blogspot.in/?view=sidebar

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     10 January 2015

1. A mutually Settlement Deed, needs to be made on a 500/- stamp paper (or franked).

 

2. Settlement deed is not required to be registered. However the Settlement Deed needs to be registered with a Notary.

 

Keep Smiling .... Hemant Agarwal

READ ARTICLES ON: https://hemantagarwal21.blogspot.in/?view=sidebar

Rajesh Hazra (Mediator Mediation Counsel)     10 January 2015

It is always good to get the deed registered with the proper Stamp value. In case of any need you have the option to take your matter before the Hon'ble Court. Consult a good lawyer.

ashleshmathur   10 January 2015

Thank you for the advice given. So I should draw up the agreement on a Rs. 500 stamp paper and get it notarized. And if necessary, get it registered as well. I hope I've interpreted the opinion correctly.

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