Deed of Family Settlement for Division of Properties Left by a Deceased Between Son
and Daughters Where Son Pays Money to Daughters
This Deed of family
arrangement is made at ........ on this ............ day of ..……...., 2000,
between A son of Shri .............. resident of .......... (hereinafter called
the FIRST PARTY) and Smt. B wife of Shri ........... resident of ..........
(hereinafter called the Second Party ) and Smt. C wife of Shri ..............
resident of ........... (hereinafter called the Third Party) and Shri D
........ son of ....... resident of ........ (hereinafter called the Fourth
Party).
Whereas by his will
dated ............ E son of late Shri .......... resident of .................
appointed the fourth party as the executors thereof and gave his movable and
immovable assets unto his children the first party, second party and the third
party in equal shares.
Whereas The said E
died on ............ and the executors obtained the probate of the said will
from the .............. District Court on ..............
Whereas the executor
has paid the funeral and testamentary expenses of the testator and all his
debts which have come to his knowledge out of the estate of the testator.
Whereas The estate of
the said E now in the hands of the executors consists of the immovable property
described in the First Schedule hereunder written and the investments,
particulars whereof are 1 described in the Second and Third Schedules hereunder
written respectively.
Whereas the parties
hereto of the first three parts are desirous that the first party shall receive
the immovable property and the second party shall receive the investments
specified in the Second Schedule hereunder written and that the third party
shall receive the investments specified in the Third Schedule hereunder written
as absolute owners.
Now This Deed
Witnesseth As Follows:
1. The
first party shall pay to each of the second and third parties, the sum of Rs.
.......…….
2. On
the making of payment as aforesaid, the executors shall 3 assent to the vesting
of the immovable property described in the First Schedule hereunder written in
the first party as absolute owners.
3. The
executors shall transfer the investment specified in Second and Third Schedules
to the second and third parties respectively and they will become the absolute
owners of the said investments.
4. It
is expressly agreed by and between the parties hereto of the first three parts
that they shall not claim any rights under the said will, save as hereinabove
provided and they shall release and indemnity the executor from and against all
actions, proceedings, claims and demands in respect of the assent and transfers
hereinbefore agreed to be made.
In Witness Whereof
the parties hereto have set and subscribed their hands to this writing, the day
and year first hereinabove written.
The First Schedule
above referred to;
(Description of
immovable property)
The Second Schedule
above referred to;
(Particulars of
investments to be transferred to second party)
The Third Schedule
above referred to;
(Particulars of
investments to be transferred to third party)
Signed and delivered
by the within named first party
Signed and delivered
by the within named second party
Signed and delivered
by the within named third party
Signed and delivered
by the within named fourth party
Witnesses;
1.
2.
