Deed
of Family Arrangement for Release of Property in Favour of Other Beneficiaries
in Consideration of Annuity
This
Deed is made at ........... on this ......... day of ......... 19 .........
between Smt. A widow of B resident of ........ here in after called as Smt. A
of the FIRST PART, and C son of B resident of ........ hereinafter called as
Shri C of the Second Part and D son of B resident of ....... hereinafter
referred to as Shri D of the Third Part.
Whereas
B was seized and possessed of the property fully described in Schedule
hereunder written (hereinafter referred to as the said property) and the said B
mortgaged the said property on .......... in favour of E to secure the payment
of the sum of Rs. .......... with interest @..........% p.a.
And
Whereas the said B died intestate on ................. at ............ leaving
him surviving his wife and two sons, the parties hereto are entitled to equal
shares in his estate.
And
Whereas the District Court of ......... granted Letters of Administration to
the estate of the intestate on ......... to Smt. A and Shri D.
And
Whereas the said Shri C and Shri D have duly paid and discharged all funeral
and administration expenses and all debts, except mortgage debt, which have
come to their knowledge.
And
Whereas the parties hereto have agreed that Smt. A will release the entire
estate in favour of Shri C and D in consideration of the payment of annuity and
of the covenants hereinafter contained.
Now
This Deed Witnesseth as Follows:
In
consideration of the annuity hereinafter granted to Smt. A and of the covenants
hereinafter contained, the said Smt. A as beneficial owner, hereby assigns and
releases unto the said Shri C and Shri D all that her rights, title and
interest in the properties described in the Schedule hereunder written and to
hold the same unto the said Shri C and Shri D in equal shares as
tenants-in-common.
2. The
said Shri C and Shri D hereby jointly and severally covenant with the said Smt.
A that they or their legal heirs will pay to Smt. A, a sum of Rs. ............
during her lifetime, the first payment to be made on ........ and being in
respect of the month beginning on that day.
3. The
said Shri C and Shri D hereby also jointly and severally covenant with the said
Smt. A that they or their legal heirs will pay mortgage money secured by the
mortgage on the said property and will at all times hereafter keep the said
Smt. A indemnified from and against all actions, claims, proceedings and
demands in respect thereof.
In
Witness Whereof the parties hereto have set and subscribed their hands to this
writing the day and year first hereinabove written.
The
Schedule above referred to
Signed
and delivered by the within named Smt. A
Signed
and delivered by the within named Shri C
Signed
and delivered by the within named Shri D
WITNESSES;
1.
2.
