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 S/o Shri.............. R/O......... (hereinafter
called the FIRST PARTY) and Smt. B W/o Shri........... R/o ..........
(hereinafter called the SECOND PARTY) and Smt. C W/o Shri
..............R/o........... (here in after called the THIRD PARTY) and Shri
D........ S/o ....... R/o ........ (here in after called the FOURTH PARTY).
WHEREAS
by his will dated ............ E son of late Mr. .......... R/o
................. 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 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.
