Legal Question in Family Law in India

Hi,
I am a resident of Hyderabad and own a House there which I built in 1995. My younger son stays in Chennai and I have been living with him for the last 4 years. I now want to do a family settlement for the property I own in Hyderabad. I want to execute the settlement deed in Chennai. I would like to know if this possible. Also is it preferable to execute a Settlement Deed or a Gift Deed. The stamp duty for registering the settlement deed in Hyderabad is 3% of the property value which works out to around 11 lacs but in Chennai it would be only Rs.10,000.. Pl.advise Also if I execute a settlement deed and want to sell the property will the indexation benefit be passed on to the settle's .
Regards,
Vinodh

Asked on 12/11/10, 11:06 pm

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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You may execute the settlement deed at any place and but may need to seek registration where the property is situated.

Answered on 12/12/10, 12:19 am

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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An unregistered FAMILY SETTLEMENT is also equally valid.

Answered on 12/12/10, 12:19 am

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