A deed of family settlement is essentially an agreement where family members mutually agree about how a property should get distributed among themselves. One of the most important essential requirement for the creation of this deed is that parties must be related among each other and claim to share the disputed property.
A legal document which is prepared to settle the disputes that arises on account of division of family property among all the family members in such a proportion that nobody gets undue advantage.
Deed of settlement is created to avoid the disputes related to family property among the family members. The name of all the members along with the detail of share to be distributed between the family members should be clearly mentioned.The deed is to be witnessed also.