Property aquired thru Settlement: Can the beneficiery transfer it thru anothother settlement
Property in question is an apartment, In Chennai of approx market value some 80 Lks
People involved: Original owner A, His wife AW (Both alive); their two sons S1, S2 and daughter D. All married and settled.
The Issue:
1. A owned a private independent house on his plot of land. Later, under joint development with a builder, the property was converted as apartment complex.
2. By that, A came to own 4 apartments; remaining flats directly sold out by the developer years ago.
3. Some 10 years ago, A did ‘Settlement Deeds” and registered them.
4. Post this registration. AW, S1, S2 and D have one apartment each received thru the settlement deed. When this was done, all alive.
5. S1 had died some 2 years ago. S1 and his wife have a son and daughter, both married off when A1 was alive.
6. AW has recently done one “settlement Deed” of the apartment that she received thru settlement done by her husband.
7. She has done ‘settlement deed’ in favor of S2 alone. However, as per the settlement deed, the property will continue to be in her possession till her own death and after that will get ‘devolved’ to S2. Till then A and AW will continue to be in possession of the property, its rental income etc.
My Question:
a) Is this valid in law?
b) What’s the status of the property?
c) Why should not the widow and children of S1 or D have any rights over it?
d) If they seek any remedy, what is the procedure?
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