Deed of Exchange of Property Value being adjusted in Cash by Shiva.

Deed of Exchange of Property Value being adjusted in Cash

THIS DEED OF EXCHANGE is made the . . . . . . . . . day of . . . . , 20 . . . . . . . ., BETWEEN A.B., aged about . . . . . . . . . . . . . . years, son of . . . . . . . . . . . . . . . . . . . , resident of . . . . . . . ., (hereinafter called the ‘‘First Party’’) of the one part AND C.D., aged about . . . . . . . . years, son of . . . . . . . , resident of . . . . . . ., (hereinafter called the ‘‘Second Party’’) of the other part.

WHEREAS A.B. is the absolute owner in possession of the house property, situate in . . . . . . . , affronting the . . . . . . . Road and bearing Municipal No. . . . . in the city of . . . . . . . , more specifically described in Schedule ‘‘A’’ hereto AND C.D. is the absolute owner of the house property, situate in . . . . . . . , affronting the . . . . . . . Road and bearing Municipal No. . . . . . . . . . . . in the city of . . . . . . . more specifically described in Schedule ‘‘B’’ hereto;

AND WHEREAS A.B. is desirous of taking up residence in the city of . . . . . . . , and C.D. is desirous of migrating to the city of . . . . . . .;

AND WHEREAS A.B. and C.D. are agreeable to exchange their respective properties;

AND WHEREAS the property of A.B. is valued at the sum of Rupees . . . . (Rs . . . . . . . ) only;

AND WHEREAS the property of C.D. is valued at the sum of Rupees . . . . (Rs . . . . . . . ) only;

AND WHEREAS C.D. is willing to pay in cash the excess value of Rupees . . . . . . . (Rs . . . . . . . ) only to equalise the value of the two properties.

NOW, THEREFORE, THIS DEED WITNESSES as follows:

1. That A.B. hereby transfers absolutely unto C.D. his properties given in Schedule ‘‘A’’ and the said C.D. hereby transfers absolutely unto A.B. his properties given in Schedule ‘‘B’’ hereto. Each party to hold the properties hereby transferred absolutely and free of all encumbrances and charges, whatsoever.

2. That each party has up to date of transfer paid all taxes, cesses, electric dues in and upon or in respect of his property and the taxes and cesses, electric dues hereafter due and payable shall be paid by their respective owners. Any taxes, cesses or charges levied by any authority on the ex-owners hereafter in respect of the properties transferred, if paid by the ex-owners, shall be recoverable with interest and damages from the respective present owners.

3. That each party accepts without investigation the assurances of the other in respect of the title of the property transferred. In case any claim, is put forward, contested and decreed in favour of any other person, whomsoever, within a period of 12 years, then this deed shall stand cancelled and the party who has accepted the transfer of the property challenged shall be entitled to recover all damages and costs of all kinds which he may have incurred or suffered.

4. That C.D. has paid a sum of Rupees . . . . . . . (Rs. . . . .) only in cash to A.B. (receipt whereof A.B. hereby acknowledges) by way of adjustment. In the event of any claim arising to the property transferred to him, in addition to the remedy provided under clause 3 above, C.D. shall be entitled to recover back the aforesaid sum with interest at . . . . . . .% p.a. from A.B.

5. That it is hereby agreed that the parties, unless repugnant to the context, include their heirs, successors and assigns.

IN WITNESS whereof the said A.B. and C.D. have hereto signed this deed in duplicate and both documents presented to the Registration Office at . . . . . . . on the day and the year first above-written.

Witnesses:

1.                                                                   Sd. A.B.

2.                                                                   ?  First Party.

Sd. C.D.

Second Party.

Schedules ‘‘A’’ and ‘‘B’’ (as in last precedent).

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