A family settlement deed is a contract that is used to resolve all family disputes outside of the courtroom. It does not involve any significant third-party approvals or acceptance. The following are some of the advantages of forming a family settlement deed:

1. It settles inter-rights in a property matter among family members without causing conflicts.
2. Preserving family rights and settling peace by preventing lawsuits or saving honor is general and fair for the sake of the family.
3. Since consideration for a promise is essential in a contract, it is legally binding on all family members, much like any other contract or arrangement, and must be followed in order to keep the peace in the home.