SETTLEMENT DEED WITH A LIFE INTEREST
Deed date: 1 April 2026
Settlor: X / donor record Harpreet Singh, House 118, Sector 21, Chandigarh. Beneficiary: X / donee record Aarav Singh, House 118, Sector 21, Chandigarh.
Property: House 118, Sector 21, Chandigarh; Plot 118; conveyance deed 4411. Regime: Punjab freehold/revenue-record property. Title: Absolute freehold ownership under Conveyance deed 4411 dated 10 June 2012. Value: ₹1,20,00,000 (Rupees One Crore Twenty Lakh only).
SETTLEMENT AND LIFE INTEREST
The transfer is Gift is voluntary and without consideration. Donor/settlor capacity: Donor is competent and acts voluntarily without coercion. Acceptance: Donee accepts the gift during donor lifetime. Life tenant: X. Life-interest scope: Right to reside and possess for life without power to sell the remainder.
REMAINDER
Remainder: Remainder vests on execution subject to reserved life interest. Life-tenant obligations: X. Alienation restriction: X.
TITLE, DUES AND AUTHORITY
Encumbrances: Nil, subject to current property tax. Dues: Property tax paid through 31 March 2026. Possession: Possession delivered on execution and registration. Authority: Property is freehold and no allotting-authority transfer permission applies. Registration office: Sub-Registrar, Chandigarh.
PROPERTY SCHEDULE
North Plot 117; South Plot 119; East road; West green belt
RECORD PARTICULARS
What is the relationship between donor and donee? Father and son
LIFE ESTATE BOUNDARY
The life tenant keeps only the possession, residence or income rights expressly reserved. The remainder holder receives the proprietary interest stated in the deed, subject to that life estate, and the life tenant cannot convey a greater estate than was retained.
POSSESSORY SHIFT
On the life tenant death, the reserved life interest ends according to its terms and the beneficiary remainder becomes fully possessory without requiring a new gift from the settlor. Administrative succession or record-update steps may still be needed to evidence the change.
LEGAL BASIS
Punjab: Sections 122 and 123 of the Transfer of Property Act, 1882 define a gift and require a gift of immovable property to be made by a registered instrument signed by or for the donor and attested by at least two witnesses. The jurisdictional Sub-Registrar receives a registrable property instrument under section 17 of the Registration Act, 1908; section 23 gives four months for presentation and section 25 contains the limited further-period route. If the property is authority-allotted, section 43(7) permission must cover the settlement. A refusal to register follows sections 72 or 73 of the Registration Act, 1908 according to the ground of refusal.
Chandigarh: Sections 122 and 123 of the Transfer of Property Act, 1882 define a gift and require a gift of immovable property to be made by a registered instrument signed by or for the donor and attested by at least two witnesses. The Sub-Registrar, UT Chandigarh receives a registrable property instrument under the Registration Act, 1908. For a sector/estate property, the registered result must also be reflected in the Estate Office file under the Capital of Punjab (Development and Regulation) Act, 1952 and Chandigarh Estate Rules, 2007. The precise Estate Office fee for a life-interest settlement entry was not confirmed. A refusal to register follows sections 72 or 73 of the Registration Act, 1908 according to the ground of refusal.