Family Agreement & Reconciliation

Property disputes are widespread in India. Since greed is a great equalizer, wars for wealth are taking place at all levels, from low-income households to extreme-income families. Even an iron will, can be challenged by unfortunate beneficiaries. The obvious solution, however, for most arguing relatives to take the matter to court. However, this is a time-consuming, lengthy and expensive process that in no way guarantees a satisfactory solution. A far more amicable and pocket-friendly solution is the decision for a family estate. A family settlement is an agreement in which family members jointly determine how a property should be distributed among themselves. All parties should be link and have a right to a share in the disputed property. The latter must not only be limit to real estate, but can also cover movable assets such as jewelry or

money in bank accounts. 

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1 Family Settlement

2 Reference:

3 Related

Family Settlement

A family settlement is usually use to settle common property or common property that the family owns as opposed to individual or self-acquired property. For example, in a particular case, the party to the first part is entitled to fully use, enjoy, and use and maintain the first floor for their own use as it is in its present condition use and reasonable first floor rents agree to self-occupy the first floor for their use and temporary use by their children and families whenever they are in India, and to rent the first floor so after the death of the Party of the first part owns the property the parties of the second, third, fourth part and others in equal parts of a quarter (1/4) each[1].

In another  case, A bona fide family settlement which resolves family disputes and rival claims by a fair and equitable division of the properties, if act upon would bind the parties and even if partition is under an unregister document,

the document is evidence of conduct of the parties.[2]

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Reference:

[1]S. Satinder Singh & Ors. vs S. Raminder Sarup Singh & Anr. on 11 January, 2018 IN THE HIGH COURT OF DELHI AT NEW DELHI

[2] Krishan Dass Gupta vs State & Others on 16 February, 2012 IN THE HIGH COURT OF DELHI AT NEW DELHI