What is a Settlement?

A settlement deed refers to the act of gifting property within a family. It involves transferring property to a family member while the owner is still alive and of sound mind. Such a settlement deed, once executed as a gift, cannot be canceled.

Cases related to the cancellation of settlement deeds are quite common. However, a deed that has been settled or a property that has been sold cannot be reclaimed.

What is a Settlement?

Some people may attempt to revoke a settlement deed because the recipient of the property engages in actions without their consent. In such cases, the original owner might file a lawsuit to reclaim the property. Therefore, when transferring property through a settlement deed, the donor should impose certain conditions. The property owner can apply any conditions they see fit.

Important Considerations for the Donor

A settlement deed can only be executed with self-acquired property, not ancestral property. It is advisable for the donor to include conditions in the deed. This increases the likelihood that the deed can be revoked in the future if necessary.

Important Considerations for the Recipient

The recipient can be anyone, including siblings or parents. It is important to consult with other family members to ensure there are no objections. Additionally, it is crucial to obtain the title deed from the donor.