Compromise In Probate Proceedings Deeds Testamentary Matters 1740 - Legal Draft

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Category : Deeds Testamentary Matters

COMPROMISE IN PROBATE PROCEEDINGS

This deed of settlement made on..........day of..........2005 among AB and CD, sons of PQ, now deceased, of........of the First Part (hereinafter called collectively the sons) and EF, wife of..........CH, wife of...........and LM, wife of..........of the Second Part (hereinafter called the daughters) Witnesses as under:
Whereas the said PQ of...........hereinafter referred to as the said deceased died on the.............day of............
And whereas the said PQ was at the time of death seized, possessed of properties and outstandings, more particularly detailed in the schedule hereunder written and hereinafter referred to as the said properties.
Whereas prior to his death and on the day of 2005 the said deceased made and published his last will whereby and whereunder he left and bequeathed all his estate and effects thereof unto and in favour of his sons providing only certain annuities for his daughters. And whereas the said sons applied for probate of the said will in the court of...........on the

.........day of ........... whereupon citations were issued and served on the said daughters who have all entered caveat and filed their respective affidavits in support thereof challenging inter alia the authenticity of the will and the testamentary capacity of the testator.
Whereas there are also various other disputes and differences between the parties as to the administration of the estate of the deceased, And whereas in order to avoid the costs of protracted litigation and for preservation of the honour, dignity and prestige of the family the said parties having consulted their respective lawyers and under advice from them have settled all disputes relating to the distribution or inheritance of the properties left by the said deceased in an amicable manner for all times in the manner hereunder appearing.
NOW THIS DEED OF SETTLEMENT WITNESSETH as follows:
(1) The daughters shall withdraw the caveat filed by them and shall not contest probate of the will which the sons shall obtain after proof of the will in the solemn form and manner required by law, without prejudice to their rights in the inheritance and distribution of the estate of the deceased as hereinafter appearing by virtue of the settlement hereunder made.
(2) In consideration of the settlement herein made, the sons and each of them shall divide and distribute the properties of the deceased and have the same partitioned into two lots and one lot, viz., lot A consisting of premises No ........ and No .........shall be transferred, assigned and delivered to the daughters to have and to hold the same jointly and in equal shares and the other lot B consisting of the premises No .......... and premises No .......... shall be held possessed and enjoyed by the sons absolutely free from all claims and demands of the daughters. The daughters will not press for any after-claim as to the other benefits provided for them in the said will which are all hereby renounced. It is further agreed that the properties to be allotted to the daughters shall be transferred to them after the sons shall obtain probate of the will and prior thereto the sons shall not charge, encumber or otherwise deal with the same.
In WITNESS whereof the parties aforementioned all together and each individually for himself and herself have set their respective hands on this final compromise in token of acceptance thereof.

Schedule of the properties

Lot A which will be allotted to the daughters.
Lot B which will be absolutely held possessed and enjoyed by the sons.
Sd/. Sons
Sd/. Daughters