Deed of Assignment of Ownership Flat

Deed of Assignment of Ownership Flat

This deed of assignment made this ………… day of ………… 20……… between Shri …………… son of …………… by faith …………… by occupation ……………… hereinafter referred to as the assignor (which expression shall mean and include his heirs, executors and administrators) of the one part and Shri ………… son of …………… by faith ………… by occupation ……… hereinafter referred to as the assignee (which expression shall mean and include his heirs, executors, administrators and assigns) of the other part.

Whereas the assignor has acquired by purchase Flat No. ………… on the building known as ………… Plot No. …………, …………… Road, …………… under an Agreement dated the day of ………… 20………… between himself as Party of the Second Part and ………… of the First Part after paying Rs. ……… as purchase price and having deposited certain sums of money as mentioned therein.

And whereas the assignee has deposited a sum of Rs. ………………… (Rupees ………… thousand only) with the assignor for the purchase of the said Flat No. ………… and the assignor had delivered vacant possession of the said Flat No. ………… to the assignee in pursuance of an Agreement of Sale dated ………… day of ……………20……… made between the parties thereto.

And whereas the assignor has agreed to assign all his right, interest, title and benefits under the said agreement dated the ………… day of …………20……… to the assignee free from all encumbrances.

Now this indenture witnesseth that in pursuance of the said Agreement and in consideration of the sum of Rs. ……… (Rupees ………… thousand only) paid by the assignee to the assignor (the receipt whereof the assignor doeth hereby admit, acknowledge and confirm and for ever discharge, acquit and release the assignee of the same and every part thereof) the assignor doeth hereby grant, convey, sell, assign and transfer all his estate, right, interest, title in and all benefits of the flat in terms of the said Agreement dated the ………… day of …………… 20 ………  mentioned hereinabove including the deposits standing to the credit of the assignor with the said Shri ………… and others being the party of the First Part referred to in the Agreement dated the ……… day of …………20………… to have and to hold the same unto and to the use of the assignee absolutely and enjoy all benefits thereof but subject to the conditions on which the assignor held the same under the Agreement dated ………… day of ………… 20………… and the assignee doth hereby agree to take the said flat subject to such conditions contained therein and the assignor doeth hereby covenant, with and agree to indemnify and keep indemnified the assignee his estate, heirs, executors, administrators and representative against all loss and damage occasioned as a result of any defect in title or want of title to the said flat or for any reason the said flat is not transferred in the name of the assignee or in the event the assignee is not made a member of the proposed Co-operative Housing Society of the said building known as “………” or refused membership of the said proposed Co-operative Housing Society for any reason whatsoever or the assignee is dispossessed of the said flat by said Shri ………… and others being the party of the First Part referred to in the said Agreement dated the ……… day of ………… 20…… as a result thereof and the assignor further agrees and covenants with the assignee to do, execute any further or other document or documents and/or deeds and to do all acts, things and deeds as may be necessary to complete and make perfect the title of the assignee in respect of the said flat.

Schedule above referred to description of the flat

In witness whereof the parties hereto have set and subscribed their respective hands and seals the day, month and year first hereinabove written.

Signed and delivered by the within-named assignor Shri ………… in the presence of:

Signed and delivered by the within-named assignee Shri …………… in the presence of:

Received of and from Shri …………… the sum of Rs. ……………                      (Rs. ………… thousand only) being the balance of the purchase money of Flat No. ………… floor, Plot No. ……………, Road …………… making the total purchase price of Rs. …………… (Rupees …………… thousand only) by cheques No. 4 and 5 on Y Bank Ltd.

Witness:                                                                                               Assignor

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