Deed of Partition with
a Cash Payment for Equalization
This Deed of
Partition is made on the ......... day of ............ between KK, resident of ......................... of
the first part AND RK, resident of ............................ of the second part AND SK,
resident of .................................. of the third part.
Whereas the parties
hereto being in possession as absolute joint owners in equal share free from
all encumbrances whatsoever the houses, gardens, lands and premises 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
KK, who assumed Karataship of the family now comprising of the parties hereto
on ..............., that is, on the death of JK, father of the parties hereto, has
rendered full account for the period beginning with the said .................., to the
date hereof and no money, claim or charges are due and owing by any of the
parties hereto against him or any other cosharers.
And Whereas KK is
prepared to pay a sum of Rs. ............. to each of the remaining parties for the
purposes of equalising the shares.
NOW THIS DEED
WITNESSES as follows :
1.
That
in pursuance of the said agreement and in consideration of premises , the said
KK and the said RK as absolute owners hereby transfer free of all encumbrances
and their two-third shares in the houses, gardens , lands and premises and the
said SK shall hereinafter hold the properties described in the Schedule I
absolutely and for ever.
2.
That
in pursuance of the said agreement and in consideration of the premises and
payment of the sum of Rs. .............. each by KK to RK and SK which sums the said RK
and SK hereby individually acknowledge as having received, said RK and SK
hereby transfer free of all encumbrances and convey absolutely unto and to the
use of the said KK their two-third share in the house, grands, lands and
premises and the said KK shall hereafter hold the properties described in the
Schedule 2 absolutely and for ever.
3.
That
in pursuance of the said agreement and in consideration of the premises, the
said SK and the said KK as absolute owner hereby transfer, free of all
encumbrances, and convey absolutely unto and to the use of the said RK their
two-third share in the houses gardens, lands and premises and the said RK shall
hereafter hold the properties described in the Schedule 3 absolutely and for
ever.
4.
That
as the documents of titles mentioned in list D pertain to the properties
subject of this parties and are common, it is hereby mutually agreed that the
said KK shall as custodian for and on behalf of all parties keep the same upon
the express conditions that whenever needed by the parties, the said KK 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 details 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 said KK and duplicates bearing the registry endorsements by the
remaining parties.
IN WITNESS WHEREOF
parties hereto have signed this deed at
............ of the
........................
Witnesses :
(Sd)....................
(KK)
1.......................
(Sd)..........................
(RK)
2........................
(Sd)..........................
(SK)
SCHEDULE A (PROPERTY
WITH VALUATION)
SCHEDULE B(PROPERTY
WITH VALUATION)
SCHEDULE C(PROPERTY
WITH VALUATION)
SCHEDULE D (LIST OF
DUCUMENTS OF TITILE
