Indian Law/Settlement deed
Hello Respected Expert
We are purchasing a plot from my brother in law and the plot is registered in his wife's name. One of my friend is suggesting to go for 2 settlement deeds (1st one from my bil's wife to bil and the 2nd one from my bil to my wife).
Is it legal? Is it a good advise? The registration cost is around 4x the cumulative charges for both the settlement deeds.
Kindly list out the risks as well
Many thanks in advance
Raghav: Thanks for your referral.
Proper documentation for this would be a sale (conveyance) deed of the plot by your brother in law's wife as seller to you as buyer. If you feel that your brother in law's wife is only the name sake owner of the plot and the real owner of the plot (for having paid for the purchased of the plot etc) is your brother in law, then you may make your brother in law as the confirming party to the said sale (conveyance) deed. This sale (conveyance) deed should be registered with the sub registry i.e. Registrar of Assurances.
Am not clear why some one has suggested Settlement Deeds.
Settlement Deed is generally made when there is a family settlement i.e. mutually agreed distribution of joint family property among the family members.
Therefore, you should make sale (conveyance) deed as said in the first para.