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A deed of family settlement is essentially an agreement where family members mutually agree about how a property should get distributed among themselves. One of the most important essential requirement for the creation of this deed is that parties must be related among each other and claim to share the disputed property.
This deed of family Settlement is made on this____ ( Date) between:-
____(Name) S/o ____, R/o ______(Address) (hereinafter called the party of the First Part)
AND
____(Name) S/o, W/o _____, R/o _____(Address) (hereinafter called the party of the Second Part)
WHILE, first Party is absolute owner and in real and physical ownership of ____ with some involving share of ____, admeasuring ____, total calculating ____ Sq.Yards, situated in ______ which is confined as under:-
East – _____
West – _____
North – _____
South – _____
AND WHEREAS, the above specified property was bought by the First party vide two distinct Sales Deed bearing file Nos. ____ dated ____ listed in the office of _____ and Sale Deed No. ____ dated ____ registered in the office of ____(Address). After buying of both the ___ some area of the ____ was involved in the ___ hence its dimension became ____ total measuring ____ Square Yards. The conditions of this household settlement tracks as under:-
1- That the party of the primary share is the actual ____ of the party of the secondary part
2- That by asset of this household settlement the first party has uncontrolled, submitted and surrendered his all privileges, title and interest in the above stated property in favour of the party of the second part and thus the second party has develop complete owner and in actual physical ownership of the said property since nowadays.
3- That the party of the primary part has put the party of the first part in the real and physical ownership of the property in question on the spot and thus the second party has develop owner and in ownership of the property stated above.
4- That the second party has develop permitted to sell, disaffect, and handover the said property and advance, lien, lease out or to do any other such acts actions and things.
5- That it has been permitted upon between the parties that the first party shall sign all the concerned papers and would overthrow her declaration in favour of the second party for getting the name of the another part recorded in any Administration office.
6- That current deed of Domestic settlement has been performed as per the allowed will and agreement of both the parties without any terror, force or fraud.
IN WITNESSES THEREOF, both the parties have set their fingers on this deed of Family Settlement on the daytime, month and year stated above.
WITNESSES
1- FIRST PARTY
2- SECOND PARTY
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