Family settlement deed format generator

FAMILY SETTLEMENT DEED

This Deed of Family Settlement is made and executed at [place] on [date]

BETWEEN

1. [Party 1's name], S/o [parent's name], aged about [age] years, ID [ID no.], resident of [address], the son of the Late Owner, hereinafter called "PARTY NO. 1";

2. [Party 2's name], S/o [parent's name], aged about [age] years, ID [ID no.], resident of [address], the son of the Late Owner, hereinafter called "PARTY NO. 2";

3. [Party 3's name], D/o [parent's name], aged about [age] years, ID [ID no.], resident of [address], the daughter of the Late Owner, hereinafter called "PARTY NO. 3";

(each a "Party" and together the "Parties", which expression shall, unless repugnant to the context, include their respective heirs, legal representatives and assigns).

WHEREAS

A. [Name of the late owner], S/o [parent's name] (the "Late Owner"), was the owner in possession of the properties described in Schedule A below (the "Family Properties"). He died on [date], and the Parties are his legal heirs and members of his family, each having a claim, right or interest in the Family Properties.

B. Disputes and differences had arisen among the Parties about their respective rights and shares in the Family Properties, and the Parties wish to settle them and to preserve peace and harmony in the family.

C. After discussion among themselves, and with the help of elders and well-wishers of the family, the Parties have agreed to settle all their claims by a bona fide family settlement on the terms set out in this Deed, each Party considering it fair and just.

NOW THIS DEED OF FAMILY SETTLEMENT WITNESSES, AND THE PARTIES HEREBY AGREE, AS FOLLOWS:

1. ALLOTMENT. The Family Properties (Schedule A) are hereby divided and allotted among the Parties as follows:

   Party No. 1 — [Party 1's name]:
      • Item A — Agricultural land, [khasra no.], [village] — [whole / describe portion]

   Party No. 2 — [Party 2's name]:
      • Item A — Agricultural land, [khasra no.], [village] — [whole / describe portion]

   Party No. 3 — [Party 3's name]:
      • Item B — Residential house, [khasra no.], [village] — Whole

2. ABSOLUTE OWNERSHIP. Each Party shall hold and enjoy the property allotted to him / her as its absolute owner, with full right to use, lease, sell, gift, mortgage or otherwise deal with it, free from any claim of the other Parties.

3. GIVING UP OF CLAIMS. Each Party hereby gives up all his / her right, title, interest and claim in the properties allotted to the other Parties.

4. POSSESSION. Each Party is already in actual, physical possession of the property allotted to him / her, and that possession is hereby confirmed.

5. MUTATION. Each Party may apply for mutation of the property allotted to him / her in his / her own name in the revenue, municipal and other records on the basis of this Deed, and every other Party shall give consent, sign any application, affidavit or no-objection, and appear before any authority as needed for that purpose.

6. LIABILITIES. Any loan, charge, tax or dues relating to a property shall be borne by the Party to whom that property is allotted, unless the Parties agree otherwise in writing.

7. NO FUTURE CLAIMS. This settlement is bona fide, voluntary and fair, and was entered into freely, without fraud, coercion or undue influence, to resolve disputes and preserve peace in the family. It is final and binding on the Parties and their heirs, and no Party, nor anyone claiming through a Party, shall reopen or challenge it, or make any further claim over the Family Properties.

8. COSTS. The cost of stamp duty and registration of this Deed and of mutation shall be borne by all the Parties in equal shares.

9. VALUE. For the purpose of stamp duty, the total market value of the Family Properties is [₹ value].

10. COPIES. Each Party shall receive a certified copy of this Deed after registration.

SCHEDULE A — THE FAMILY PROPERTIES

   Item A: Agricultural land
      Location: [village, tehsil, district]
      Khasra / survey / plot no.: [number]
      Area: [area]

   Item B: Residential house
      Location: [village, tehsil, district]
      Khasra / survey / plot no.: [number]
      Area: [area]

IN WITNESS WHEREOF the Parties have signed this Deed on the date and at the place first written above, in the presence of the witnesses below.


PARTY NO. 1: _______________________
[Party 1's name]


PARTY NO. 2: _______________________
[Party 2's name]


PARTY NO. 3: _______________________
[Party 3's name]


WITNESSES:

1. Signature: ____________________
   Name: [Witness 1]
   Address: [address]

2. Signature: ____________________
   Name: [Witness 2]
   Address: [address]

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