A family arrangement is a transaction between members of the same family which is for the benefit of the family generally. It is arrangement between member of a family descending from a common ancestor or near relation trying to sink their differences and disputes, settle and solve their conflicting claims once and for all to buy peace of mind and bring about harmony and goodwill in the family by an equitable distribution or allotment of assets and properties amongst member of the family. The object is to preserve the property and the good name of the family by recognising that it is not in the good interest of the family or the members to engage in fights or disputes.
Some of the important terms are described below: