FAMILY ARRANGEMENT VS PARTITION DEED
FAMILY ARRANGEMENT VS PARTITION DEED –; Partition deed is amid co sharers of property, it declares separate title of an individual in a specific asset and excludes him from asset not falling in his share. It’s a title deed. Family settlement does not create title, it does not create proper partition of property but it represent that what is the purpose of family and until final partition how the family will use the property and it may consist that which one wants to own specific part of the property. It is document of desires of a family. It does give any right to anybody but in long term if it is followed it provides right to estoppels The dissimilarity is that of payment of stamp duty and registration of the document recording partition. A family settlement has no need for registration and stamp duty, but partition deed requires registration and stamp duty both. . essentials of family settlements are’; (1) It can be oral as well as written and there is no need to r...