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Author Topic: WILL or SETTLEMENT, Which is superior  (Read 770 times)

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Offline get_sundari

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WILL or SETTLEMENT, Which is superior
« on: August 08, 2015, 11:54:31 AM »
Dear Sir/Madam,

Can you pl. elaborate on the following

1. The difference between a WILL and a Settlement.

2. Which one is superior among the two a) WILL or b) SETTLEMENT

3. When we should write a WILL and When we should right/do a SETTLEMENT?

4. Does WILL as equal waitage like a SETTLEMENT?

5. In a WILL, can we mention specifi conditions and in case it is not fullfilled can it be cancelled?

6. In a SETTLEMENT, can we mention specifi conditions and in case it is not fullfilled can it be cancelled?

7. What is the Pros and Cons of a "WILL" and a "SETTLEMENT"?

Thanks for your answers in advance.

Offline mamtatdave

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Re: WILL or SETTLEMENT, Which is superior
« Reply #1 on: August 09, 2015, 06:56:34 AM »
Both the Documents has different base and none of can be superior.
Will is prepared by the owner of the movable and immovable property which he/she acquired during his/her life time earning. i.e. self earned property.
Settlement is mutual understanding between the legal heirs of the deceased which is reduce into writing. 

Offline get_sundari

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Re: WILL or SETTLEMENT, Which is superior
« Reply #2 on: August 10, 2015, 09:50:24 PM »
Thanks for your response.

Also request your expert advice on the following.

1. When a House property is made through a SETTLEMENT, in the settlement document whether the settlor can mention a clause that the settle has to fullfill specific conditions during the tenure of settlor life ?

2 Can the settlor mention that the settlement document can be cancelled by the settlor to the settle, in case the settle fails to fullfill the conditions specified in the settlement during the tenure of settlor life ?


 

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