Family Members Settlement Agreement

Does the Family Comparison Agreement require registration? A family comparison agreement is solid gold in the inheritance court. The Court does not even have the power to approve or reject them. All parties sign it, it is filed before the Court and acts as both a binding and enforceable contract. If put right, it`s a great protection against future liabilities and claims from heirs who spent their inheritance much faster than they ever imagined (and now that they`re thinking about it, they really should have heard more). Family Settlement Agreement is a document for the resolution of all family disputes outside the courts. It is not necessary to obtain major authorizations or approvals from third parties. As under section 17 of the Indian Registration Act of 1908, a family comparison that entitles itself to the allocation of fixed property must be registered to ensure that the act of division is valid. In addition, stamp duty also applies to an act of division. The cost of stamp duty depends on the value of the property in question. About 66 percent of the cases in which judicial intervention is sought are property-related disputes, a study by the NON-GOVERNMENTAL ORGANIZATION Daksh has found.

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