MOU / Settlement agreement registration is mandatory??
2 years ago
Hi Respected Lawyers,
I have signed a MOU/Settlement agreement with my biological mother. The agreement is printed on stamp paper and is duly notarized by the notary with 2 witnesses.
The agreement contains the condition that whatever property will be bought jointly in FUTURE in my and my biological mother name---my mother share after her death will automatically be transferred back to me and I will become absolute owner in possession of her share and all her legal heirs are explicitly excluded from any share , title, right , claim in her share.
Question number 1: Since the property does not exists and will be bought in future, is it mandatory to get the agreement registered in sub registrar office??
Question 2: The agreement that I have is signed by both parties along with 2 witnesses on stamp paper and duly notarized. Does this agreement also has legal validity and is binding on both the parties??
Vaidehi Samant
Responded 2 years ago
If you have found the answer helpful than please provide review and give ***** as appreciation.
A.Dear Sir,
It has to be registered otherwise you cannot legally rely upon such document. Get, signatures of two witnesses on it.
I could have explained more if background is known to me.
Please give me FIVE STAR if satisfied by my answers.
1. As the MOU entered between you and your biological mother include exchange of some monetary value it need to be registered.
2. Yes, when MOU shows intention of parties to enter into legal relational, the MOU has legally Binding effect.
Thank You.
It is not mandatory to get the agreement registered in the sub-registrar office as it is about a property that is not in existence and secondly, the agreement you made is legally valid and is binding on both the parties.
Thank you
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