Assignment Of An Agreement For Sale Deeds Immovable Property 916 - Legal Draft

Assignment of an Agreement for sale

This Deed of Assignment made between Mr ......................... hereinafter referred to as the ASSIGNOR of the One Part and Mr ....................... hereinafter referred to as the ASSIGNEE of the other Part as follows :

WHEREAS

By an agreement for sale dated ............ entered into between Mr........... as Vendor and the Assignor as Purchaser, the Vendor has agreed to sell and the Assignor has agreed to purchase the land and premises situate at .............. and more particularly described in the Schedule thereunder written (being the same as described in the Schedule hereunder written) at the price and on the terms and conditions therein mentioned.

The Assignor has paid to the Vendor a sum of Rs............. as earnest and towards payment of the Purchases price and the balance is to be paid on the execution of the Deed of Conveyance.

The Assignor is not interested in purchasing the said property and the Assignee has expressed his desire to purchase the said property on the terms and conditions mentioned in the said agreement for sale.

The Assignor has agreed to assign his right to Purchase the said property under the said agreement for sale and all other rights incidental and which the Assignee has agreed to

Now this deed witnesseth that pursuant to the said agreement and in consideration of the sum of Rs ............ paid by the Assignor to the Assignee on the execution of these Presents(receipt whereof the Assignor doth hereby admit) he the Assignor doth hereby assign and transfer the right of the Assignor to purchase the said land and premises described in the Schedule hereunder written arising under and by virtue of the said agreement for sale dated hereinbefore recited and all other right and interest of the Assignor under and by virtue of the said agreement for sale absolutely but subject to all the duties and obligations and liabilities of the Assignor under or by virtue of the said agreement for sale and now to be complied with by the Assignee qua the said Vendor including the obligation to pay the balance of the purchase price to the said Vendor and all other money if any payable by the Assignor under the said agreement.

Provided that and It is hereby agreed and declared and the Assignee covenants with the Assignor that if in the event of breach of any term or condition contained in the said agreement for sale on the Part of the Assignee for and on behalf of the Assignor the Assignor suffers or incurs any loss, damage, costs, charges and expenses, the Assignee shall indemnify and keep indemnified the Assignor against all such loss, damage, costs, charges and expenses.

IN WITNESS WHEREOF THE PARTIES HAVE PUT THEIR RESPECTIVE
HANDS THE DAY AND YEAR FIRST HEREINABOVE WRITTEN.
THE SCHEDULF,    ABOVF, REFERRED TO

X x x    x

Signed by the withinnamed Assignor
Mr...............
in the presence of........... .............

Signed by the withinnamed Assignee
Mr..............
in the presence of........................