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Property Settlement Agreement Between Family Members

However, the Supreme Court of Thulasidhara/Narayanappa authorized an unregupted memorandum on the family settlement as evidence. The court held the memorandum against a family member who did not refute its contents, but simply used it to the point of non-registration. The sale is a transfer of ownership in exchange for a part paid or promised or partially paid and promised. The transfer by the sale of items on the value of rupees of more than one hundred or more can be made by a registered instrument. Th… It is not enough to reach an agreement between family members; There are certain legal requirements that must be met to ensure that the sharing contract is legal: in fact, it is now shown that, in accordance with the agreement on the family establishment and in view of the transaction between the parties, it is agreed below that they comply, meet and be summoned to the above conditions. With regard to registration and stamp, you need to determine if they are necessary. For secondary use, the agreement can be stamped and not registered. A count does not require registration if it is oral.

But for the written word to be considered legal, registration is a good option because it is accepted in court. The legal indication of such a division must indicate the shares of each co-owner (legal patrimony), the complete data of the property concerned and the necessary measures. The family comparison contract must have the same format as an act of division. In addition, it is not mandatory to register and stamp the family contract. However, a family comparison contract requires the voluntary signature of all family members, i.e. without an incidental purpose, can be stamped but not registered. If it is not properly stamped and recorded, the family comparison act cannot be considered in any way. Whatever the situation, the objective can be determined based on the circumstances in question. A family feud is nothing less than a dramatic battlefield and perhaps even a bloodbath if it is not settled by mutual agreement among family members. Property disputes are not limited to a single layer of society, it is common everywhere, including low-income households for extravagant families, which is why property disputes are very common among Indian families.

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