Can anyone explain me about SETTLEMENT DEED??? How it differs from Will?
KRISHNAPRASAD IYER
(B.Com , CA Final)
(657 Points)
Replied 27 June 2012
The definition of Settlement deed which does not find a place in the Transfer of Property Act, 1882 has however found statutory approval under Section 2(24) of the Indian Stamp Act, which reads thus: (24) “Settlement” means any non-testamentary disposition, in writing, or movable or immovable property made- (a) In consideration of marriage, (b) For the purpose of distributing property of the settlor among his family or those for whom he desires to provide, or for the purpose providing for some person dependent oil him, or (c) For any religious or charitable purpose; and includes all agreement in writing to make such a disposition and, where any such disposition has not been made in writing, any instrument recording, whether by way of declaration or declaration of trust or otherwise, the terms of any such disposition
Source:https://www.vakilsearch.com/law/property/property-buying/settlement-deed
A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his estate and provides for the transfer of his property at death.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
