Deed of Partition with a Cash Payment for Equalising by Shiva.

Deed of Partition with a Cash Payment for Equalising

THIS PARTITION is made the . . . . . . . . . . day of . . . . . . . . . . 20 . . . . . . . . . . BETWEEN A.B. etc. . . . . . . . . . of the First Part AND B.C. etc. . . . . . . . . .of the Second Part AND C. D. etc. . . . . . . . . . . of the Third Part.

WHEREAS the parties hereto being in possession as absolute joint owners in equal shares free from all encumbrances whatsoever  the houses, gardens, lands and premises more specifically described in the Schedules marked ‘‘A’’, ‘‘B’’, ‘‘C’’, made part of this deed have agreed with each other to put an end to their community of ownership and to divide the properties contained in the said schedules for the purposes of the same being separately and individually owned, possessed and enjoyed;

AND WHEREAS the said A. B., who assumed Kartaship of the family now comprising the parties hereto on the . . . . . . . . . ., that is, on the death of E.F., father of the parties  hereto, has rendered full account for the period beginning with the said date, to the date hereof and no moneys, claim or charges are due and owing by any of the parties hereto against him or any other co-sharer;

AND WHEREAS A. B. is prepared to pay a sum of Rs. 500 to each of the remaining parties for the purposes of equalising the shares.

NOW THEREFORE THIS DEED WITNESSES:

1. That in pursuance of the said  agreement and in consideration of the premises, the said A.B. and the said B.C. as absolute owners hereby transfer free of all encumbrances and convey absolutely unto and to the use of the said C.D. their two-thirds shares in the houses, gardens, lands and premises AND the said C.D. shall hereafter hold the properties described in Schedule ‘‘A’’, absolutely and forever.

2. That in pursuance of the said agreement and in consideration of the premises and the payment of the sum of Rs. 500 each by A.B. to B.C. and C.D., which sums the said B.C and C.D. hereby individually acknowledge as having received, the said B.C. and C.D. as absolute owners hereby transfer free of all encumbrances and convey absolutely unto and to the use of the said A.B. their two-thirds share in the houses, gardens, lands and premises AND the said A.B. shall hereafter hold the properties described in Schedule ‘‘B’’ absolutely and forever.

3. That in pursuance of the said agreement and in consideration of the premises, the said C.D. and the said A.B. as absolute owners hereby transfer, free of all encumbrances, and convey absolutely unto and to the use of the said B.C. their two-thirds share in the houses, gardens, lands and premises AND the said B.C. shall hereafter hold the properties described in Schedule ‘‘C’’ absolutely and forever.

4. That as the documents of titles mentioned in List ‘‘D’’ pertain to the properties subject of this partition and are common, it is hereby mutually agreed that the said A.B. shall as custodian for and on behalf of all the parties keep the same upon the express condition that whenever needed by the parties, the said A.B. shall  produce the same for inspection of, and allow copies to be made, if so desired.

5. That the value of each share shown in detail in the Schedules hereto is Rs . . . . . . . . . . which is the value for the purposes of stamp duty.

6. That this deed is being executed in triplicate, the original stamped copy shall be kept with the said A.B. and the duplicates bearing the registry endorsements by the remaining parties.

IN WITNESS whereof the said A.B., B.C. and C.D. have hereto signed at . . . . . . . . . . this the first day of . . . . . . . . . . 20 . . . . . . . . . .

Witness:

Sd. A.B.

Sd. B.C.

Sd. C.D.

SCHEDULE ‘‘A’’ (property with valuation).

SCHEDULE ‘‘B’’ (property with valuation).

SCHEDULE ‘‘C’’ (property with valuation).

SCHEDULE ‘‘D’’ (list of documents of title).

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