FAMILY SETTLEMENT / ARRANGEMENT

Deed of Family Settlement/Arrangement though a part of property documentation, is not a attribute of property transfer unlike in case of Sale/ Purchase Deed, Lease Deed, Mortgage Deed, Development Agreement & Development Power Of Attorney or Transfer of Development Rights or  Agreement for Sale.  It is in the nature or form of concord or compromise amongst the members belonging to the same and one family brought about by all of them for the benefit of the family in view of several considerations such as, for protecting the family property from getting wasted by existing or future disputes, for avoiding disputes and litigation, for establishing and ensuring amity and goodwill amongst the members and like wise.
For a Deed of Family Settlement/Arrangement to become enforceable in the Court of Law a lawyer assuming the drafting thereof had to ensure that the Family Settlement is made with a bona fide and sincere intention in view of several considerations referred to above and such settlement is voluntary and free from any fraud, coercion or undue influence, the property and/or the benefits, claims, right of user, thereof are appropriately compromised, recognised, admitted, conceded, distributed, relinquished, divided in conformity with the intentions of the family members. Where such Family Settlement/Arrangement is oral it may be recorded in writing subsequently drafting and executing memorandum of Family Settlement/ Arrangement.

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