The difference between a sale deed and a settlement deed:
Sale Deed:
A sale deed is a legal document used to transfer ownership of a property from one party (the seller) to another (the buyer) in exchange for monetary consideration.
In a sale deed, there is a direct monetary exchange involved. The buyer pays the seller a specific amount, and in return, the seller transfers the property rights to the buyer.
It is commonly used when selling property to a third party or an unrelated individual.
The sale deed is registered with the appropriate authorities to make it legally valid.
Settlement Deed:
A settlement deed is also a legal instrument, but it involves a different context.
Settlement deeds are typically used within families to resolve property disputes or distribute property rights among family members.
Unlike a sale deed, a settlement deed does not necessarily involve direct monetary consideration. Instead, it may be executed out of love, affection, or family arrangements.
For example, if parents want to release their property rights to their sons and daughters, they can do so through a settlement deed.
Settlement deeds are often used when there is no sale transaction but a need to clarify ownership rights among family members.
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What is the difference between sale deed and settlement deed?
Punit
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2024-02-15T08:48:14+00:00 2024-06-26T11:26:47+00:00Comment
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