Registration Cancellation in Nature of Settlement Deed
Last year, we ( me and younger married sister) decided to transfer ownership of the property that belonged to our father to my brother. The primary reason for this decision was that he needed the property as collateral to secure a business loan. At that time, we trusted that the property would remain within the family and that this transfer was purely for financial assistance.
However, we have recently uncovered that my brother has been planning, without informing us, to sell the property. This discovery has caused significant concern, as it was never our intention for the property to be sold outside the family. When we confronted him about this matter, we were further dismayed to learn that the property transfer had been executed under a settlement deed.
The use of a settlement deed implies that there was some form of compensation or settlement between us, which is not the case. We never received any settlement or consideration for this transfer, and it appears the deed was used in a misleading manner to facilitate the transfer.
Given these circumstances, we feel that our trust has been violated, and we no longer wish for this deed to stand. We now seek to cancel the registration of this settlement deed, as it was done under false pretenses, and to protect the property from being sold without our knowledge or consent.