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My father in Tamil Nadu would like to write settlement(s) on twonproperties(i.e. residential plots)


09-Mar-2023 (In Property Law)
My father in Tamil Nadu would like to write settlement(s) on twonproperties(i.e. residential plots) keeping life interest on them, allowingnspecified child in the settlement, to inherit property after himEven though he might like to give each property to a different child, Inbelieve a single settlement can cover both propertiesIs there any advantage in writing a separate settlement for each property asnopposed to writing a single settlement?nnBy writing a single settlement for an immediate family member, does he save onnstamp duty as opposed writing separate settlements?nnDoes this settlement needs to be registered in sub-registrar office closest tonphysical location of each property or can in be done in any sub-registrar'snoffice inside Tamil NaduThis settlement can be drafted and registered by a document writer. Is anlawyer's review of the settlement document recommended before it beingnregistered?
Answers (2)

Answer #1
743 votes
One settlement deed is enough for settlement of properties of a owner. It is always better to do it with the help of an advocate so that any complications in future may be avoided. Most people, just to save money, download some model from the internet which is risky. Anyways it is upto the parties to follow a certain procedure and style.
People also ask

What are the limitations to challenge a settlement deed?

It is generally three years. However, it cannot be unilaterally revoked.

What are the conditions for a settlement deed?

The terms of the settlement must be agreed upon by all parties. Free consent should not be influenced by external elements like deception, coercion or deception. Both oral and written agreements can be accepted. All parties must sign the written agreement if it is written.

Can a property be transferred through settlement deed?

A sale deed will be used when a property is sold. 08-Sept-2023

What is the charge of settlement deed in Tamilnadu?

Registration of Settlement Deed Below are the registration fees to be paid if settlement is made: Stamp duty, which is 1% the value of the property up to a maximum amount of Rs. 25000. Fees of 1% the value of the property up to a maximum amount of Rs. 23-Oct-2023

  
Answer #2
388 votes
In Tamil Nadu, registering a settlement deed is required for movable property. Only after the document has been registered will it be valid. In order to register a settlement agreement in Tamil Nadu you will need the original title document, encumbrance certificates, proof of identity and proof Aadhaar.
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Comments by Users

Indrani
How much fees wll be charged for settlement deed property.

Reply by LawRato
The fees for drafting a property settlement deed may vary depending on your location, and the complexity of the transaction. Since your query is unclear about your location it is best that you consult with a local lawyer who can provide you with accurate information on the fees involved in the property settlement process. 
You can hire a lawyer by clicking on the link below - 
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