Format of Property Agreement
THIS Agreement has been executed on this ____, _________ at _________ between:
1- _________ son of _________, resident of _________, _________ (hereinafter called the first Party) (owner of the _________ land)
2- _________ son of _________, Resident of _________ (hereinafter called the second party). (Intending purchaser)
The expression “owner”, “ Intending Purchaser”, shall include their respective agents, nominees, executors, administrators and their lawfully appointed agents.
NOW THIS AGREEMENT stands executed on this day _________, _________ on the following terms and conditions which are set forth as under:-
1- That the first party has agreed to pledge his land total measuring _________, out of the land bearing _________, which is situated within the _________ District _________ to the party of the second part.
2- That in view of the amount of _________/- having paid by the intending purchaser of the party of the second part on _________ to the owner i.e. the party of the first part for which the party of the first part agreed to pay the amount alongwith interest @ __% per annum (if any) on the total amount due towards the party of the second part and agreed to pay the entire consideration amount along with interest upto date to be paid within the period of _________ month i.e. _________.
3- That the party of the first part has _________.
4- That the party of the first part has agreed to _________.
5- That in case the party of the second part _________.
IN WITNESS WHEREOF both the parties have set their hands on this agreement at _________ on this day , month and year first mentioned above in the Presence of respectable witnesses