• Settlement agreement or family agreement or MOU or any other agreement

Hi Respected Lawyers,

My name was Pankaj Gupta and I was given into adoption 30 years ago and after adoption I am Pankaj Bansal since 30 years.


My land was acquired 2 years back and I have done a compromise with my biological father Ramesh Gupta that:

1)That the compensation amount from LAC be deposited in joint account of myself(Pankaj Bansal) and my biological father (Ramesh Gupta). 

2)That all immovable properties will be bought jointly in the name of myself(Pankaj Bansal) and my biological mother Saroj Gupta from that compensation amount.


Note: The source of funds to buy the property will always be the compensation amount of my land that myself (Pankaj Bansal) and my biological father (Ramesh Gupta) have agreed to deposit into joint account of myself(Pankaj Bansal) and my biological father (Ramesh Gupta)


Now I want to enter into an agreement with my biological mother Saroj Gupta that whatever property that we will buy jointly from this compensation amount :

1)After the death of my biological mother Saroj Gupta, her share in the joint property will automatically be transferred into my name and I will become the absolute owner in possession of that property after her death. Any third party including the legal heirs of my biological mother Saroj Gupta will have no claim,right , title in the said property and all her legal heirs are excluded for any claim in this property.



Question number 1: The half share of property under my biological mother name will be treated as self acquired property or ancestral property?? 

Question number 2: Since my biological mother will explicitly exclude all her legal heirs from any right, title or intrest of her share in this agreement--

Can any legal heir of my biological mother claim any right in her share after execution of this agreement ????

Note: Since the property currently does not exists and this agreement will be applicable to the property bought in future in our joint names ---


Question number 3: What kind of agreement should myself and my biological mother execute with each other so that the agreement can be registered with sub registrar????
Settlement agreement or family agreement or MOU or any other specific agreement

Since the property currently does not exists , will the sub registrar register our agreement without any property id???
Asked 3 years ago in Property Law
Religion: Hindu

3 answers received in 30 minutes.

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10 Answers

1. self acquired

2. in the sale deed to be executed for purchase of the property in future, it can be stated that the property is bought in the joint names of the son and mother. however the mother's name is added in the sale deed as a co-purchaser only for sake of convenience and by way of mutual family arrangement. for all intents and purposes the son will be the absolute owner of the property and on demise of the mother, her share will devolve on the son by survivorship and not by intestate succession to her legal heirs. this will serve your purpose

if the above is stated in the sale deed itself then any legal heir of your mother will be precluded from claiming any right in her share

3. there is no need to register the agreement as by such an agreement there is no transfer of property happening. its merely an agreement between the son and the mother as to how the property to be purchased in the joint names of the son and mother is to be dealt with upon the demise of the mother. so this agreement can be simply notorised. if you want it to be registered then no harm for that too

no the sub-registrar cannot refuse to register the agreement. he just has to see that proper duty is paid on the agreement [which will be nominal] and the parties who have signed the agreement are before him and have admitted their respective signatures on the document 

Yusuf Rampurawala
Advocate, Mumbai
7781 Answers
79 Consultations

1) it would be treated as self acquired property 

 

2) legal heirs cannot claim share after execution of  the agreement 

 

3) deed of family settlement can be entered into 

Ajay Sethi
Advocate, Mumbai
97807 Answers
7925 Consultations

Dear Client, 

Firstly, the half share of your biological mother will be treated as self-acquired property as the question of how your biological father got the property is not clear. Secondly, if there is an agreement explicitly mentioning the condition of other legal heirs not having any share, the legal heirs can not claim them. With respect to the agreement, MOU is the best option as a settlement agreement can only be made when there is a dispute.

Thank you.

Anik Miu
Advocate, Bangalore
10479 Answers
121 Consultations

1. The half share of property on the name of your biological mother shall be her self acquired and her own and absolute property. 

2. If the agreement is for valid consideration and executed by a registered deed then it would be legally valid and enforceable. 

Any challenge in this regard by any vested interest may not be maintainable. 

3. You can get the property transferred by a conditional gift settlement deed. 

Registration of non existing property may not be entertained. 

 

T Kalaiselvan
Advocate, Vellore
88010 Answers
2370 Consultations

1. Self acquired. 

2. If self acquired then no. 3. Gift deed

Prashant Nayak
Advocate, Mumbai
33092 Answers
215 Consultations

1. Self acquired property 

2. Since the said property come under the self acquired tag , then she having her right to transfer the property to you and none having right to claim over the same. 

3. Conditional gift deed 

Mohammed Shahzad
Advocate, Delhi
14885 Answers
225 Consultations

There is no such property in existence 

 

no need to register it 

 

MOU is binding on parties 

Ajay Sethi
Advocate, Mumbai
97807 Answers
7925 Consultations

1. An unregistered agreement cannot be enforced in court of law. 

2. Read the above answer. 

The contract cannot be enforced through court if the same has not been executed by a registered deed. 

T Kalaiselvan
Advocate, Vellore
88010 Answers
2370 Consultations

Dear Client, 

It is not mandatory to get such an agreement and secondly, it will be binding on both the parties and legally valid. 

Thank you

Anik Miu
Advocate, Bangalore
10479 Answers
121 Consultations

1. Yes

2. Registration is mandatory

Prashant Nayak
Advocate, Mumbai
33092 Answers
215 Consultations

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