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It is often noted and seen that there are various unwanted and unnecessary litigation in regards to the ancestral property and it takes time and money of parties and the Valuable time of Hon’ble Court gets wasted whereas the issue among the parties seems to be petty issue and same can be resolved if proper conciliation and mediation are provided. But there are various situations when one of family member does not trust another member of his or her family or their intention as are they are often in doubt. This person of family may not be trustworthy, man of word and he or she may step back from their word. So such a settlement can be reduced into writing in regard to the property and this settlement is called Family Settlement.
The Family settlement can help the family members to secure their right, portion and status in regard to the property and the family settlement can also be binding upon the people execution or signing the same. But it has to be proper and as per law because in case any discrepancies and lacuna in the said family settlement, it may lead to a challenge to the same and may cause unnecessary and avoidable litigations.
As per the law it was held by the Apex Court to refrain from unnecessary litigation in the court there should be Medication and Conciliation between parties in regards to the compoundable offence and the civil disputes.
To avoid the same, you may contact us. We draft family settlements very carefully keeping in mind all the needs of our clients.