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Composition deed
Download ready-to-use legal templates for composition deeds, compromise agreements, and family settlement deeds under Indian law for various dispute resolutions.
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Quick Overview
All templates are provided for reference and should be reviewed by legal professionals before use.
Frequently Asked Questions
Common questions about Composition deed legal templates
What is a composition deed?
A composition deed is a legal agreement where a debtor and creditor settle debts for a mutually agreed amount, often to avoid litigation.
When is a deed of compromise used?
It is used to settle disputes amicably, whether related to debts, property, family matters, or legal claims, without continuing litigation.
Is a composition deed legally binding in India?
Yes, if executed on proper stamp paper, signed by both parties, and meets legal requirements, it is binding under Indian law.
What is the difference between a composition deed and a compromise deed?
A composition deed usually relates to debt settlement, while a compromise deed can address a broader range of disputes including property and family matters.
Do family settlement deeds require registration?
Yes, if the deed creates or transfers rights in immovable property, it must be registered under the Registration Act, 1908.
Can a composition deed be challenged in court?
It can be challenged if obtained by fraud, coercion, or misrepresentation, or if it violates any law.
What are the key elements of a valid composition deed?
It should clearly state the terms of settlement, parties involved, consideration, and be duly executed and witnessed.
Is stamp duty payable on a composition deed?
Yes, stamp duty is payable as per the applicable State laws based on the nature and value of the settlement.
Who can draft a composition deed?
A lawyer or legal professional familiar with the specific nature of the dispute can draft the deed to ensure legal compliance.
Are there templates available for different types of composition deeds?
Yes, templates are available for debt settlements, family arrangements, trustee appointments, and compromise agreements.