Deed Of Separation Of One Party From H.u.f. Deeds Partition 955 Legal Draft Template

THIS MEMORANDUM OF PARTITION is made and entered into at ..………………. this ……………… day of …………….. between (1) …………….., (2) ………………. and (3) …………….. all residing at ……………………. hereinafter referred to as the Parties of the First Part of the One Part and Mr. …..……………….. residing at …………………. hereinafter referred to as the Party of the Second Part of the Other Part.

WHEREAS the Parties hereto are members of joint and undivided Hindu family consisting of themselves and their respective wives and children and the said ……………. being the father and the ………………, …………….. & …………………. being his sons and the said Family owns as such the properties described in the schedule hereunder written. AND WHEREAS the Party of the Second Part does not desire to remain joint with the others and has claimed his share in the said property. AND WHEREAS the Party of the Second Part is not interested in having any property in lieu of his share nor is it possible to partition the properties by metes and bounds so as to separate the share of the Party of the Second Part, and it is, therefore, agreed that the Parties of the First Part shall pay the former a sum of Rs. ………….. in full payment of his share, right, title and interest in the said properties described in the Schedule hereunder written.

NOW THIS DEED WITNESSETH THAT in the premises and in consideration of the said sum of Rs. ………… paid by the Parties of the First Part to the Party of the Second out of their joint family funds (receipt whereof the Party of the Second Part admits) he the Party of the Second Part grants and releases all his undivided share, right, title and interest in the said properties described in the Schedule hereunder written together with all the rights, members, privileges and liberties, appurtenant thereto TO HAVE AND TO HOLD the same unto and to the use of the Parties of the First Part, freed and discharged and released of the share, title and interest of the Party of the Second Part as a member and coparcener of the said Joint Hindu Family.

AND IT IS DECLARED by and between the parties hereto that the said properties will continue to belong to the Parties of the First Part as members and coparceners of the joint and undivided Hindu Family consisting of the Parties of the First Part only and that the Party of the Second Part shall be hereafter deemed to be separated in food, worship and estate from the said family.

AND the Party of the Second Part covenants with the Parties of the First Part that he has not done any act, deed or thing whereby or by means whereof he is prevented in any way from granting and releasing his share, title and interest in the said properties in the manner aforesaid.

IN WITNESS WHEREOF the Party of the Second Part has put his hand the day and year first hereinabove written.

THE SCHEDULE

Signed and delivered by the                                          )
within named Party of the                                            )
Second Part Mr. ……………., in the                                   )
presence of …………… ………………. …………  )

Received on the day and year first                                  )
hereinabove written and from                                         )
the withinnamed Parties of the                              )
First Part, the sum of                                                )
Rs. …………… in full payment of                             )
Rs. ………………
value of my share in the                                             )
property above mentioned.                                            )

Witnesses :                                                   I SAY RECEIVED.
1
2                          Party of the Second Part