Disclaimer by a Benamdar

Disclaimer by a Benamdar

This indenture made this …………… day of ……………… between AB …………… son of XY ………… by caste ………… by occupation ……………… residing at …………… hereinafter called the releasor (which expression shall where the subject or context allows or admits of be deemed to include his heirs, executors, administrators and representatives) of the one part and CD ………… son of EF ………… deceased by caste ………… by occupation ………… residing at …………… hereinafter called the releasee (which expression shall where the subject or context allows or admits of be deemed to include his heirs, executors, administrators, representatives and assigns) of the other part.

Whereas it appears that by a conveyance dated the ………… day of ……… 1976 executed by MN …………… in favour of the said AB …… and registered in the office of ……… in Book I, vol. ……… page ……… to ……… being No. ……… for the year, the releasor, hereto he, the said MN, for the consideration mentioned therein purported to grant, convey, sell, transfer and assign in favour of the said AB ………… the property fully mentioned and described in the schedule thereto and also particularly written in the schedule below:

And whereas the transaction having been a benami purchase the said property was in fact and truth, reality and substance acquired by the releasee with his own moneys and for his use and benefit though in the name of the releasor but not intending to make a gift or advancement or otherwise settle or to create or confer any title or benefit thereof upon the releasor or to defraud any creditor(s), who thus having acquired no title nor any interest in the said property but was a mere name lender or benamdar and the releasee was at all material times and still now is the lawful owner and in possession, enjoyment and control of the said property and every part thereof and has at all times and is still been administering the same to all intents and purposes. And whereas all the documents of title in relation to the said property were and are also still in the possession and custody of the releasee and all outstanding and liabilities of the property such as ground rent, municipal taxes, etc., were and are still paid and satisfied by the releasee.

And whereas for reasons and considerations hereunder mentioned the releasor has in the circumstances aforesaid and to avoid any dispute or difference in future and to safeguard the future interest of the releasee agreed to disclaim the said property and execute and register a declaration in respect thereof in terms herein mentioned and now this indenture witnesseth that in the circumstances hereinbefore stated and for good reasons and considerations as aforesaid it is hereby agreed and declared by and between the parties as follows:

1. The releasor doth hereby and hereunder agree, declare and confirm that although the purported conveyance of the said property stands in the name of the releasor as purchaser, the same was a benami transaction for the releasee and, as such, the releasee was at all times and is also at present the sole beneficial owner in possession and real proprietor of the said property and every part thereof and that the releasor had not nor at present has nor shall in future claim any right, title or interest whatsoever in, to, upon or otherwise relating to the same or any portion thereof or otherwise concerning the same.

2. The releasor doth hereby and hereunder absolutely disclaim, disown and relinquish and for ever discharge all and every such pretended right, title, interest, claim or demand or cause of action which may now or hereafter be alleged or contended or construed in his favour in respect of the said purchase and/or the said property and otherwise relating thereto or concerning the same or any part thereof by virtue of the hereinbefore recited conveyance the same having been made in the name of the releasor as hereinbefore stated.

And this indenture further witnesseth that for the consideration hereinbefore stated the releasor doth hereby and hereunder acquit, release, discharge, grant, convey, transfer and assure unto and to the use of the releasee the said property and every part thereof absolutely and for ever in the manner hereunder indicated and the releasor doeth hereby covenant with the releasee that the releasor had not done, executed, performed nor been party or privy to any act, deed or thing whereby of whereunder or by reason or means whereof the said property or any part thereof may be in any manner charged, encumbered or otherwise affected or prejudiced in title or estate or the releasor may be hindered or prevented from transferring the said property unto and to the use of the releasee in the manner hereinbefore indicated.

The estimated value of the property is Rs. ……………………………

The Schedule above referred to

In witness whereof the said AB has hereunto executed these presents on the day, month and year first above-written. And that the said CD doth hereby accept the Release hereunder made as testified by his being a party hereto and executing these presents.

Signed, sealed and delivered by AB

the releasor in the presence of:

Signed, sealed and delivered by CD

the releasee in the presence of:

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