Deed Of Sale Of Joint Family Property For Legal Necessity Deeds Agreement For Sale 1488 - Legal Draft

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Deed of Sale of Joint Family Property for Legal Necessity

This deed of sale made this...........day of..........2005 between AB for self and as karta of and representing all other coparceners, viz., his sons named.....all constituting a Hindu Mitakshara undivided family of, etc., (hereinafter called the vendor) which expression shall, where the subject or context allows, be deemed to include at all times hereafter all persons being from time to time the coparceners of the said family of the one part and CD of etc. (hereinafter called the purchaser) of the other part.
Whereas the said joint family for several years past owned and still owns and possesses inter alia the lands, hereditaments and premises described in Schedule A hereto as part of its estate and whereas the said joint family also carried on and still carries on business as dealers and suppliers of

...............at No .........under the name and style of ........ which suffered a heavy loss of its capital and reserves estimated at Rs ............in the year ............owing to outbreak of fire at its godown at No ................. on the day of and whereas the joint family could not also pay its income tax and other capital and revenue liabilities of the said business aggregating to Rs .............. for the .......... years and also its business debts estimated at Rs ............. and whereas the said joint family has at present no funds nor any other means or resources to make up the deficit as regards capital loss and to pay the liability of the family as regards the said income-tax except by sale of one of its properties and whereas in the circumstances aforesaid the said AB for self and as Karta of the said joint family has by an agreement in writing dated ........ agreed with the said CD for sale of the property fully mentioned and described in the Schedule hereto at and for the sum of Rs ........... and whereas such sale is to the interest and for the benefit of the said joint family and its estate. And whereas the said CD after bona fide and independent enquiry is satisfied about the present financial condition of the family and in particular the debts and liabilities as aforesaid and the reasons for circumstances behind and the necessity for the sale. Now this Indenture witnesseth that in pursuance of the said agreement and in consideration of the sum of Rs .............. paid by the said CD to the said AB simultaneously with the execution of these presents he, the said AB both hereby and hereunder for self and as karta for and representing all other coparceners of the said joint family do hereby grant, sell, convey, transfer, assign and assure the said property together with all houses, buildings, fixtures etc. (as usual in a conveyance) unto and to the use of the said CD absolutely and forever.
And the vendor doth hereby covenant with the purchaser that notwithstanding any act, deed, matter or thing whatsoever by the vendor or any person lawfully or equitably claiming by, from, through, under or in trust for the vendor, made, done committed or omitted or knowingly suffered the contrary the vendor hath the rightful power and absolute authority to grant, convey and assure the said premises hereby and assure and intended so to be unto and the use of the purchaser in the manner aforesaid and it shall be lawful for the purchaser from time to time and at all times hereafter peaceably and quietly to enter upon possess and enjoy the said premises described in the Schedule hereunder written and to receive all rents issues and profits thereof and of every part thereof to and for the Purchaser's own use and benefit without any suit lawful eviction interruption claim for or demand whatsoever for or by the vendor or any person lawfully or equitably claiming or to claim by, under or in trust for vendor and that free and clear and freely and clearly and absolutely acquitted exonerated and forever discharged or otherwise by the vendor well and sufficiently saved defended and kept harmless and indemnified of from and against all former and other estates titles charges and encumbrances whatsoever had made executed occasioned or suffered by the vendor or any other person lawfully or equitably claiming or to claim by, from, under or in trust for vendor and further that the vendor and all persons having or lawfully or equitably claiming any estate or interest whatsoever in the said premises or any of then or any part thereof from under or in trust for the vendor shall and will from time to time and at a ll times hereafter at the request and costs of the purchaser do and execute or cause to be done and executed all such further and other lawful reasonable acts, deeds, things and assurances in the said land hereditaments and premises whatsoever for the better and more perfectly assuring the said premises described in the Schedule hereunder written and for every part thereof unto and to the PURCHASER in the manner aforesaid as by the purchaser shall be reasonably required.

The Schedule above referred to

In witness whereof the parties herein have executed these presents on the day, month and year first above-written.

Signed, sealed and delivered by
the within-mentioned vendor
in the presence of:

Signed, sealed and delivered by
the within-mentioned purchaser
in the presence-of:
Memo of Consideration

Received of and from the within-named purchaser the sum of Rs

.....................(Rupees) being the full consideration mentioned above by Bank Draft No ........... dated .........for Rs .......... On X Bank Ltd., Calcutta Branch.
Witness Received
Signature