Date : 23 Apr, 2021
Post By Bhupender Tanwar
The unfortunate truth of society is property disputes or property issues among the family. Money and Wealth are the biggest bait to lure people, everybody wants to be rich or to earn the amount that can buy them whatever they want. People become greedy once they taste the flavor of ease and wealth, that greediness creates rift and property disputes between brothers and sisters. Property disputes in families have become common especially if grandfather property is in question. In this blog we will talk about types of property, what is property settlement? Advantages and procedure of property settlement. What is family settlement? Property disputes in the family are like a war inside a family which might start from verbal abuse to even bloodshed. From the salary of the member of a family to the big lands, everything comes into question when property issues arise. When a dispute arises, the only way left with the family members is to take the court’s help. But that is also something which is not easy, civil matters or property dispute in a family is a lengthy process and takes time. Sometimes people spend half of their life in such cases. The only thing which creates hesitation in the minds of the people is that dragging the family matters into the court, not everyone likes it even though it's necessary or important they try to either avoid taking the family matters into the court or try to settle the matter. Settlement is an agreement between the family matters in which they distribute the property or divide the property with mutual agreement. Consult the best property lawyer online Types of property Property is of two types ancestral or self-acquired property: Ancestral Property: Ancestral properties are basically joint family property or property which is in the family for generations and becomes part of the inheritance in all the members of the family or the members who have rights in the inherited property by law. In other words property from grandfathers or great grandfathers becomes ancestral. Self-Acquired Property: Self-Acquired property means property that is earned or made by the person himself, self-acquired property is only inherited through a will by the person whose property it is to the person who he/she wants to give. No one can claim their rights on the self-acquired property. But it becomes ancestral if the person whose property it is dies without making a will. Division of Property by Settlement Agreement: When either a person becomes greedy of money and property or if a person is in need or if the person thinks or feels that he/she is depriving of his/her rights or not getting what he/she should be rightfully inherited then they ask for partition. Not everyone wants to fight with the family in the court or don’t like to question their own family or drag family issues in front of everybody inside the courtroom. So, they agree mutually to divide the property. Settlement of property depends on the member how they want to execute. First, the most important thing to keep in mind when settlement takes place is that it should happen with good faith and free consent. The next thing which is required is how they want to do it; it is not always necessary it should be made in writing but it is preferable. And the signature of the family members amongst whom it is dividing should be there. Since it is happening on a mutual understanding stamp and registration of the document is not compulsory. What Happens When Families Don’t Agree Mutually for Property Settlement? If the parties are not fine with the settlement or do not agree with the share is going to divide between him/her and another family member then there will be no choice left but to take the matter to the court. That means the party or parties will have to file the suit for partition if they are not satisfied or agreeing with the property settlement. The first thing before filing suit for partition is they will have to send a legal notice in which they will have to mention that about the property and how many shares they want or how many shares should be divided amongst the family members. Then the other party will have to reply and if the other did not reply or take the notice seriously then the partition suit will be filed. Now once the suit is fined then it becomes the court’s duty to find out whether the party or parties is having any right to claim the property or not? Or whether they are rightful owners or co-owners in that property or not? If the court is satisfied that the party has the right over the property then the court will decide the share.
Legality involved in property settlement: To make the partition deed valid it is important to make it in writing and needs to be registered along with the signature of all the family members who have claim over the property. If any member’s signature is not there then in the future the share or partition can be challenged. Two witnesses also required as a safety measure and as proof of the partition, it is although not mandatory to attest to the witness but only as a safety measure. Advantages of property settlement: It is always good if the matter gets solved out of court although it is not right in every case but if the nature of the case or matter or issue is civil then it is a beneficial process if the parties settle the case outside the court because civil cases take years to get settled or solved. There the property settlement also has certain advantages which are as follows: The time of the parties and courts will be saved. Court cases take a lot of money, so property settlement saves money as well. Since the settlement is through mutual understanding then there is less chance of conflicts. The procedure of property settlement: Since the division is due to a mutual agreement or mutual understanding, therefore, the procedure for property settlement is not a very complex process, the procedure for property settlement is are as follows: If the division is of ancestral property, then for mutual agreement the Karta of the family will call the lawyer to share the property. The members of the family will be called for the settlement. It is important to have all the family members present at the time of the settlement so that in the future there is less chance of conflict. The Karta will decide the rightful share of the property to the family members with the help of a lawyer. The lawyer will announce the share of each family member who has rights over the property or has a claim over the property. The members of the family have to agree with the settlement. To avoid the chance of conflict and smooth settlement or division, it is advisable that it would be in writing. Once the written document is prepared, it needs to be signed by the family members. Since it is not a partition deed the registration is not a mandatory process here. Settlement of Self-Acquired Property: Self-Acquired Property is the property that is made by the individual himself/herself. Since the property is made by that individual then it can not be questioned for sharing of the property. Self-Acquired Property can only be shared or passed on the will of the person whose property it is. The individual can transfer the self-acquired property to whom he/she wants when he/she is alive. Self-Acquired Property can include: The property is made by the individual himself/herself. The property which the individual gets through a partition. The property which the individual gets through inheritance or will. But if the person or the individual whose self-acquired property is being discussed for sharing or settlement died without making a will then the property turned into ancestral property automatically. If the property turned into ancestral property, then only the property settlement can take place. Get in touch with the best property lawyer
Conclusion: Hence it is concluded that the property dispute in a family is unfortunately very common especially in India which could lead to disastrous consequences. To avoid this kind of situation the easy and peaceful method of settlement of property by mutually agreeing for the division of property, but it required that the agreement is performed in good faith and with free consent. If the dispute is not resolved by the settlement, then the parties need to file the partition suit for their rights in the property where the court will decide the share between the family members.