Indemnity Bond against Possible Claim of a Co-sharer believed to be Dead

Indemnity Bond against Possible Claim of a Co-sharer believed to be Dead

THIS DEED OF INDEMNITY made this ………… day of between AB son of etc. (vendor) of the one part and CD son of etc. (Purchaser) of the other part.

WHEREAS by a conveyance bearing even date with these presents made between the parties hereto the property mentioned and described in the schedule below was granted, conveyed, sold, transferred and assigned by the said AB unto and in favour of the said CD.

AND WHEREAS the said property was owned by the said AB jointly with his brother EF who left home on or about the 5th day of …… and has not since returned nor been heard of at all in spite of diligent enquiries and is believed to be dead and whereas the said EF was unmarried at the time when he left home and as such he could not have left any heir other than the vendor. And whereas ever since the said EF left home, the vendor was at all times and is still now openly in exclusive use, possession, control and enjoyment of the entirety of the said property to all intents and purposes and thus declared himself to be its sole and absolute owner. And whereas  the vendor agreed to sell the said property and the purchaser agreed to purchase the same subject to the vendor executing a separate deed of indemnity in favour of the purchaser in terms hereunder contained.

NOW THIS DEED OF INDEMNITY witnesseth that in consideration of the purchaser having purchased the property on the assurance and guarantee of the vendor as to protection and indemnity against any possible claim by the said EF if he is discovered to be still alive or by any person or persons through or under him the vendor do hereby and hereunder agree to indemnify and at all times keep indemnified the purchaser and his heirs, executors, administrators and representatives and also estate against all such possible claims or demands made or any actions and proceedings, if any, commenced by the said EF if alive or by any person or persons claiming through or under him in respect of the said property and also against all costs, charges and expenses reasonably incurred for defending any such claim, action or proceedings.

The Schedule of the property sold

IN WITNESS WHEREOF, etc.

Signed, sealed and delivered                                                                                           AB

Disclaimer:

The information contains in this web-site is prepared for educational purpose. This site may be used by the students, faculties, independent learners and the learned advocates of all over the world. Researchers all over the world have the access to upload their writes up in this site. In consideration of the people’s participation in the Web Page, the individual, group, organization, business, spectator, or other, does hereby release and forever discharge the Lawyers & Jurists, and its officers, board, and employees, jointly and severally from any and all actions, causes of actions, claims and demands for, upon or by reason of any damage, loss or injury, which hereafter may be sustained by participating their work in the Web Page. This release extends and applies to, and also covers and includes, all unknown, unforeseen, unanticipated and unsuspected injuries, damages, loss and liability and the consequences thereof, as well as those now disclosed and known to exist.  The provisions of any state’s law providing substance that releases shall not extend to claims, demands, injuries, or damages which are known or unsuspected to exist at this time, to the person executing such release, are hereby expressly waived. However the Lawyers & Jurists makes no warranty expressed or implied or assumes any legal liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product process or service by trade name, trade mark, manufacturer or otherwise, does not necessarily constitute or imply its endorsement, recommendation or favouring by the Lawyers & Jurists. The views and opinions of the authors expressed in the Web site do not necessarily state or reflect those of the Lawyers & Jurists. Above all, if there is any complaint drop by any independent user to the admin for any contents of this site, the Lawyers & Jurists would remove this immediately from its site.