Release by a Separated Coparcener by Shiva.

Release by a Separated Coparcener

THIS RELEASE is made the  . . . . . . . . . day of . . . . . . . . ., 20. . . . . BETWEEN A.B., aged. . . . . years, son of . . . . . . . . . , acting for himself and as Karta of a joint Hindu family consisting of himself and his sons, namely, . . . . . . . . . and  . . . . . . . . . presently residing at No. . . . . . . . . . Road in the city of . . . . . . . . . hereinafter referred to as the ‘‘Releasee’’ of the one part,  AND C.D., aged  . . . . . . . . . years,  separated son of the said A.B., presently residing at No. . . . . . . . . .Road  . . . . . . . . . in the said city of . . . . . . . . ., hereinafter referred to as the ‘‘Releasor’’ of the other part.

WHEREAS the said A.B. and his brother E.F. carried on a joint family business at various places in the cities of . . . . . . . . . and . . . . . . . . under the name and style of . . . . . . . . .

AND WHEREAS the said E.F. died leaving two sons who did not desire to continue in the said business and desired to be separated from the joint family business and also desired a partition of the joint family property. In pursuance of the said  wishes of the sons of E.F. and with the consent of A.B. the matter was referred to the sole arbitration of Shri . . . . . . . . . of . . . . . . . . ., who by his award, dated . . . . . . . . ., duly registered the same day at the Sub-Registry Office of . . . . . . . . ., divided the entire property of the joint family including the said business and allotted to A.B., the entire business of . . . . . . . . ., carried on in the cities aforementioned, and over which proprietary possession was given to A.B., who has from the said date to the date hereof managed, possessed and enjoyed the said business as a business of his branch of the family alone;

AND WHEREAS the said C.D. on the . . . . . . . . . by notice to A.B., demanded separation and was, after taking accounts and valuation of all the property of the joint family allotted the business of the firm carried on in the city of . . . . . . . . . and has established himself separately and independently of his father and his brothers.

AND WHEREAS it is necessary to safeguard the future interest of the parties and their representatives after them and in order to end all possible claims which the parties or their representatives after them may have or hereafter put forward in respect of the separated shares and properties of the said  parties in the belief that such claims do in reality exist;

NOW THIS DEED WITNESSES that in pursuance of the fact that the Releasor is separated and has duly and fully received his share of all the joint family property, including his share in the family business from the said Releasee and in pursuance of the fact that he, the said Releasor, has no claim interest or title on the Releasee or his property the said Releasor hereby releases unto the Releasee and to such other members mentioned above as are joint with him, and to their respective representatives for ever, all rights, titles and  obligations in present or in future which the said Releasor may have had or has in or upon the remaining joint family or the property of the said joint family now in existence or which may hereafter be acquired by the Releasee or the family;

AND the said Releasee for himself and as Karta of his joint family mentioned above hereby releases the said Releasor from all rights, titles and obligations which the said remaining joint family or the said A.B. may have had or have in or  upon the said Releasor or his representatives and his or their property  now existing or which he or they may hereafter acquire.

It is also mutually agreed that the value of the property hereby affected for the purpose of stamp duty is of the  value of Rs . . . . . . . . . or thereabout.

IN WITNESS whereof the said A.B. for himself and as Karta of his joint family and the said C.D. have hereto signed at . . . . . . . . ., the day and the year first abovementioned.

Witness:                                                           Sd. A.B.

Releasee.

Sd. C.D.

Releasor.

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.