Agreement Of Reference Between Members Of Hindu Undivided Family Legal Draft Template

THIS AGREEMENT is

made the dayof BETWEEN Shriof AND Kmdaughter of AND Smtwidow

of.WHEREAS the parties

aforementioned are members of a joint Hindu family and posses joint-family

property and business, andWHEREAS differences

have arisen between the said members as to the share and the rights of each

member in the said property and business, andWHEREAS the parties

are not agreed as to which property should be allotted to each respective

party, andWHEREAS

Shriaforementioned claims to own certain properties as self-acquired alleging

that the same is not divisible as amongst the other parties andWHEREAS the parties have

agreed to refer their disputes about the division of the joint-family

properties and business to the sole arbitration of Shriexercising the powers

hereinafter mentioned;NOW THIS AGREEMENT OF

REFENCE WITNESSES as follows:1.

That

the arbitrator shall be entitled to ascertain the extent of value of the

joint-family properties and shall determine the manner in which the business of

the joint family shall be carried on hereafter and wound up and provide for the

disposal of the goodwill of the business as he shall deem fit.2.

That

the arbitrator shall have full power to divide and allot by lot or otherwise

the joint-family properties amongst the parties aforementioned after

determining the share of each such party and the extent and nature of the

rights which belong to Smt.aforementioned. The arbitrator shall also take

into consideration the rights of the unmarried daughters of the parties

aforementioned and shall make the provisions for their education, bringing up

and marriage as the circumstances may require.3.

The

arbitrator shall be entitled to award money compensation from one party to

equalize the shares thereof. The arbitrators shall be entitled to cause any

property or properties to be sole and to distribute the assets after payment of

debts of the family in such manner as he shall deem fit. The arbitrator shall

be entitled to take such evidence as he may deem necessary and to direct the

delivery of title deeds or other documents from one party to the other in

connection with the share allotted to such other party. He shall also be

entitled to cause any of the joint-family property to be partitioned or divided

by metes or bounds and to cause a structure to be built or demolished as he may

think fit for the separate enjoyment of the share in immovable property

allotted to each or any party.4.

Except

for fraud or collusion, the award of the arbitrator shall not be set aside for

any other judicial misconduct in the proceedings.IN WITNESS WHEREOF

the aforementioned parties have signed this deed in token of acceptance

thereof.Witness

A......B....

C..

D..

E(Note:- A to E indicate the members of the Hindu Undivided Family & the agreement is made with the consent of all members hence signature of all required)