You may go for the partition suit for the properties but the retirement benefits are based on father's death to the wife if there is any pension of the gratuity and fund.

All the related parties should agree for the partition deed and sign the document and also testify in the court in civil suit for this regard.

Deed of family settlement can be executed between family members

2) it should mention stepmother relinquishes her share in property and X amount is paid to sister in full and final settlement of her share

3) deed should be duly stamped and registered

The family can draw a family settlement deed with respect to the properties and your step mother can relinquish her share along with minor share in property in lieu of monetary consideration full paid.

Also though guardian can give a valid consent for minor then also for secured transfer ask her to apply before civil court for permission of relinquishment of minor share in lieu of complete pf in her name the court shall grant permission.

Ancestor property will be devided and decided among to all legal heirs but self acquired property would be as per choice of karta of family. Pension and flats are self acquired property but agri land is ancestor property therefore that agri land will be a cause of partition. If you have to devided that land between family members and legal heirs then you should be take all consents of partition in written format and get duly attested. Your father and your flat not consider as partition. In future there would be clashes on your father owned flat but make your father will in written and clarify partition of your father self acquired property . Apart from this there is no issues for your property rights.

1. It is so nice to see that after a long time there is a query in which there is no family dispute between family members over property

2. You, your brother, your step mom for herself and on behalf of the minor sister, need to enter into a deed of family settlement cum partition wherein the property will be agreed to be divided among you all as per mutual agreement

3. You can either register or notorise this deed

4. Thereafter consequential documents like release deed etc. will have to signed and executed by the respective parties as agreed in the family settlement deed. That deed needs to be registered

The law is sons and daughters acquire equal right by birth. Thus, the daughter is entitled on par with you. It has to be equally divided. She has to relinquish her rights over the estate in acceptance of the cash consideration which should be almost equal to her share in the estate.

1. Well if your father dies intestate then all his assets would be liable for equal division among all of you including his terminal benefits except family pension.

2. However the property left by your mother would be divided among to of you and your father.

3. Your father though during his lifetime give everything of his self acquired assets to his wife and daughter through Will or gift but his ancestral property would be again divided among all of you.

4 If you mother refuses to part with you your due share you can file suit for partition to claim your share in the property.

Give effect to this arrangement by means of entering into a family arrangement.

Take legal help to get the above family settlement drafted, executed and registered.

You can get a family settlement deed executed whereby you can clearly mention the extent of share in property goes to whom. Secondly your mother and sister should execute relinquishing deed whereby they state that they have relinquished right on property and have received amount in lieu of property. Ensure that both documents are registered.

The properties left behind by your father upon his intestate death shall devolve equally on all his legal heirs comprising you, your brother step mother and step sister.

If you people arrive at an amicable family settlement, you may draw a partition suit describing the schedule of properties to be allotted to each individual be it immovable property or cash in compensation as per the mutually agreed conditions and get the deed registered so that there arises no dispute in this regard at any stage in future.

If there is an understanding among all the shareholders then there is no need for proper partition or legal procedure for partitioning the property.

The family arrangement can be reduced to writing and registered so that each one becomes as an absolute owner of their respective schedule of property.

Dear Sir,

You may get into a release deed executed by your step mother in the name of you all stating all the conditions of the release by your step mother. It must be registered. The format of release deed is as follows:

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DEED OF FAMILY ARRANGEMENT FOR RELEASE OF PROPERTY IN FAVOUR OF OTHER BENEFICIARIES IN CONSIDERATION OF ANNUITY

THIS DEED is made at ........... on this ......... day of ......... 19 ......... between Smt. A widow of B resident of ........ hereinafter called as Smt. A of the FIRST PART, and C son of B resident of ........ hereinafter called as Shri C of the SECOND PART and D son of B resident of ....... hereinafter referred to as Shri D of the THIRD PART.

WHEREAS B was seized and possessed of the property fully described in Schedule hereunder written (hereinafter referred to as the said property) and the said B mortgaged the said property on .......... in favour of E to secure the payment of the sum of Rs. .......... with interest @..........% p.a.

AND WHEREAS the said B died intestate on ................. at ............ leaving him surviving his wife and two sons, the parties hereto are entitled to equal shares in his estate.

AND WHEREAS the District Court of ......... granted Letters of Administration to the estate of the intestate on ......... to Smt. A and Shri D.

AND WHEREAS the said Shri C and Shri D have duly paid and discharged all funeral and administration expenses and all debts, except mortgage debt, which have come to their knowledge.

AND WHEREAS the parties hereto have agreed that Smt. A will release the entire estate in favour of Shri C and D in consideration of the payment of annuity and of the covenants hereinafter contained.

NOW THIS DEED WITNESSETH AS FOLLOWS:

1. In consideration of the annuity hereinafter granted to Smt. A and of the covenants hereinafter contained, the said Smt. A as beneficial owner, hereby assigns and releases unto the said Shri C and Shri D all that her rights, title and interest in the properties described in the Schedule hereunder written and to hold the same unto the said Shri C and Shri D in equal shares as tenants-in-common.

2. The said Shri C and Shri D hereby jointly and severally covenant with the said Smt. A that they or their legal heirs will pay to Smt. A, a sum of Rs. ............ during her lifetime, the first payment to be made on ........ and being in respect of the month beginning on that day.

3. The said Shri C and Shri D hereby also jointly and severally covenant with the said Smt. A that they or their legal heirs will pay mortgage money secured by the mortgage on the said property and will at all times hereafter keep the said Smt. A indemnified from and against all actions, claims, proceedings and demands in respect thereof.

IN WITNESS WHEREOF the parties hereto have set and subscribed their hands to this writing the day and year first hereinabove written.

The Schedule above referred to

Signed and delivered by the within named Smt. A

Signed and delivered by the within named Shri C

Signed and delivered by the within named Shri D

WITNESSES;

1.

2.

Dear Client,

You all are 1/4th share holder in properties and cash. Mother will release her share in all three in lieu of pension , than you can do partition acc. to comport and possession by 1/3rd each.

You can decide the same between the legal heirs and execute a Registered partition deed for the same.

Hello,

A settlement deed is to be made between all the legal heirs.

Get the same registered thereafter.

Also, since the sister is minor, her share will be executed through the mother.

Get in touch with a local lawyer for the same.

Regards

 if all the parties are consented then it would be best for you to prepare a family settlement deed and got it's registration.  the family settlement is also as effective as the partition. In family settlement you are not liable to pay any kind of stamp duty on the mutation of property. On the basis of family settlement agreement parties can mutate property in their name. If you file partition suit then you have to pay Court fee in proportionate of market value of the property. The family settlement deed will give same effect but no stamp duty or Court fees is required.

Hi,

it is suggested to decided terms of settlement and partition among all family members and get it written and then registered it. It may be done through will of father also.

1. Both the deeds are legally valid provided they are registered.

It is after all arrived after mutual agreement.

2. Not necessary, the family arrangement or settlement deed itself shall act as release deed.

3. After registration the parties can apply for mutation of revenue records to their names with the concerned revenue department to complete the process.

A family settlement is essentially an agreement where family members mutually work out how a property should get distributed among themselves. All the parties should be related to each other and have a claim to a share of the disputed property.

2) According to Section 17 of the Indian Registration Act, a family settlement that purports to assign immovable property must be mandatorily registered or the deed would be invalid. A stamp duty is applicable on such deeds and the amount would depend on the value of the property involved

3) The effect of the partition deed and family settlement deed is the same to divide the property. The substantial difference is that of the payment of stamp duty and registration of the document recording partition.

4) on basis of family settlement deed and partition deed property can be transferred in name of legal heirs

Settlement is where, owner distributes his/her property between his heirs acc. to his wish in his life time whereas partition effect between co owners.

So in your case, partition is valid.

Oral partition is valid, otherwise stamp duty, around 5 %, check with sub registrar if any rebate on partition between family members.

Mother can settle her share through registered deed in all three that will also cost stamp duty, So release deed is better way to get her share.

Mutation of ownership in municipal records, not much fees.

.

Dear Sir,

My answers are as follows:

1. There is suggestion of Family settlement deed and partition deed. Could you please help me understand the basic difference between these on following points.

Ans: Given at the end.

2. Validity and effectiveness of both the deeds, which one is better, pros and cons of each. To avoid future clashes if any.

Ans: Given at the end

3. What are charges need to be paid for each in Maharashtra (stamp duty, registration charges, or any other charges.)

Ans: You may check with the concerned Registering Office because we cannot believe government websites for accuracy.

4. Is it possible to execute both the deeds considering one of the member is minor.

Ans Not necessary. Natural guardian of the Minor will represent.

5. Is it necessary to execute release deed after one of above deed?

ANS: NOT NECESSARY.

6. Once above deed is complete, what is the procedure to get the properties transferred on respective heir’s name and what are the charges.

ANS: JUST PRODUCE THE CERTIFIED COPIES AND FILL THE UP THE CONCERNED FORMS.

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DIFFERENCE BETWEEN PARTITION DEED AND FAMILY SETTLEMENT

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A settlement deed is a non-testamentary disposition, in writing, of movable, or immovable property made -

a) in consideration of marriage,

b) for the purpose of distributing properties of Settler among his family or those for whom he desires to provide for, or for the purpose of providing for some person dependent on him, or

c) for any religious or charitable purposes;

Settlement also includes an agreement in writing to make such a disposition or where a disposition is not made in writing, any instrument recording, whether by way of a declaration of a trust or otherwise, the terms of any such disposition. The Karnataka Stamp Act has similarly defined settlement.

The essential ingredients are:

(1) It is a non-testamentary disposition, that is it is not a Will, as such it operates immediately on execution, where as a Will comes into operation only after the death of its author. However, a settlement may also contain a clause for reservation of life estate.

(2) The Act specifies it must be in writing; so an oral disposition is not a settlement

(3) There may be an agreement to make such a disposition

(4) If it is not in writing, any record, providing evidence for such disposition, is also a settlement

(5) There must be a settler i.e. the owner of a movable or an immovable property.

(6) There must be people that is family members or other persons who are dependent on the settler in whose favour the property is to be settled. It may be for religious or charitable purposes.

Partition v/s settlement

Usually partition of joint properties is mistaken for settlement. However, partition constitutes division of properties between the joint owners as well as the division of joint interest ownership in the property. Thus, the division amounts to severance of the joint interest in the ownership of the common properties and the common property is thus divided among them.

Each partner becomes the absolute owner of his share and each partner’s share is subject to a pre-determined percentage, governed by either the inheritance laws or by the partnership deed as the case may be.

In settlement, however, the property is owned by a third person and his settled in favour person’s who do not have any previous interest in the said property and the share of the beneficiary is as per the wishes of the settler.

Hi,

Both the deeds are similar in nature and you may go for both on the same date. For charges, you may contact local office of registrar to confirm circle rate.