Tag: Deed drafting

Deed Format of Dissolution

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Deed Format of Dissolution
Deed Format of Dissolution

This Deed of DISSOLUTION is executed at _____ on this _____  between:-
1-    _____ son of _____ R/o _____ (hereinafter referred to as the First Party/First Partner, which expression shall include his heirs, executors, legal representatives, administrators and assignees) of the one part
AND
2-    _____ son of _____ R/o _____ (hereinafter referred to as the Second Partner, which expression shall include his heirs, executors, legal representatives, administrators and assignees) of the Other Part.
Whereas the parties referred hereinabove have been carrying on business of _____ in the name and style of _____, Shop _____  under a deed of partnership dated _____ and whereas the party of the second is desirous of leaving the partnership and parties have agreed to dissolve the said partnership.

NOW THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES THAT:

1-    The partnership of in the name and style of _____  mentioned above shall stand dissolved. Now the _____ remaining partner will carry on the business in the same name as a proprietor of the firm. Thereafter the said _____ will be solely responsible for all assets and liabilities of in the name and style of _____, Shop consisting portion of _____ from today.
2-    That from today the said _____ will be at a liberty to carry on business of any nature in the name of _____ in the said shop or any other business in any other name as required by the remaining partner.
3-    The retiring partner shall cease to have any interest in or connection with the business of the firm with effect from _____ In full consideration of their relinquishing all rights, claim and interest in the business and assets of in the name and style of _____, the retiring partner has been paid mutually a handsome amount of _____/- through the _____, _____ by the continuing partner who will be the proprietor from today as the full and final payment of the assets and liabilities. That I will be responsible for all the liabilities of any nature like the complaint under Section _____ of the Negotiable Instruments Act from the prior date of today.
4-    The continuing partner shall be at liberty to continue the business in the name of _____ either as its sole proprietor or in the partnership with others.
5-    That after today the continuing partner shall be liable to the all profits, losses, debts and liability with regards to the business of the said _____.
6-    That the tenancy of _____ in shop consisting portion of _____ will be with _____ the remaining partner now as proprietor of _____. The party of the first part will have no claim over the tenancy of the shop consisting portion of _____
7-    Without prejudice to any rights and remedies, herein contained, each of the partners hereto hereby releases and discharges the other from all actions, proceedings, claims and demands on account of the said partnership.
In witness whereof the parties hereto have set their hands in the presence of witnesses.

First party

Second party

Third party

Witnesses:
1.
2.

Format of Deed for Mortgage

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Format of Deed for Mortgage
Format of Deed for Mortgage

This Deed of Mortgage made at …………………. this ……………. day of ………………. Between X, son of …………………………. resident of ………………………. hereinafter called as a mortgagor of the ONE PART and Y, son of …………………. resident of ……………… hereinafter called as a mortgagee of the OTHER PART.

WHEREAS the mortgagor is absolutely seized and possessed of or otherwise well and sufficiently entitled to the house bearing municipal no……………. situated on …………………… Road, ………………….. more particularly described in the Schedule hereunder written;

AND WHEREAS the mortgagor has requested the mortgagee to lend him a sum of Rs. …………………… which the mortgagee has agreed on the mortgagor mortgaging his property.

NOW THIS DEED WITNESSETH THAT in pursuance to the said agreement and in consideration of the sum of Rs. ……………… at or before the execution of these presents paid by the mortgagee to the mortgagor (the receipt whereof, the mortgagor doth hereby admit and acknowledge and of and from the same hereby release and discharge the mortgagee), the mortgagor hereby covenants with the mortgagee that he will pay on the ………………… day of …………….. (hereinafter called “the said date”), the said sum of Rs. …………….. with interest @ …….. % per annum from the date of these presents till the repayment of the said sum in full, every quarter the first installment of interest to be paid on the ………………. day of ………. 2000 and each subsequent installment on the ……………. day of July, October, January and April of each succeeding year until the said sum is repaid in full.

AND THIS DEED FURTHER WITNESSETH THAT

In consideration aforesaid, the mortgagor doth hereby transfer by way of mortgage his house bearing municipal no …………….. situated on ………….. Road . …………………. and more particularly described in the Schedule hereunder written as a security for repayment of the said sum with interest @ ……………. per annum with the condition that the mortgagor, his heirs, executors, administrators or assigns shall on the said the pay to the mortgagee, his heirs, executors, administrators or assigns the said sum of Rs ………….. together with interest thereon at the rate mentioned above, the said mortgagee, his heirs, executors, administrators, or assigns shall at any time thereafter upon the request and at the cost of the mortgagor, his heirs, executors, administrators or assigns reconvey the said house, hereinbefore expressed to be mortgaged unto or to the use of the mortgagor, his heirs, executors, administrators or assigns or as he or they shall direct.

AND IT IS HEREBY AGREED AND DECLARED that if the mortgagor does not pay the said mortgage amount with interest when shall become due and payable under these presents, the mortgagee shall be entitled to sell the said house through any competent court and to realise and receive the said mortgage amount and interest, out of the sale proceeds of the house.

AND IT IS FURTHER AGREED AND DECLARED by the mortgagor that during the period, the mortgage amount is not paid and the said house remains as a security for the mortgage amount, the mortgagor shall insure the said house and take out an insurance policy in the joint names of the mortgagor and mortgagee and continue the said policy in full force and effect by paying premium and in case of default by the mortgagor to insure or to keep the insurance policy in full force and effect, the mortgagee can insure the said house and the premium paid by the mortgagee will be added to the mortgage amount, if not paid by the mortgagor on demand.

AND IT IS FURTHER AGREED THAT the mortgagor can grant lease of the said house with the consent of the mortgagee in writing.

AND IT IS FURTHER AGREED BY THE MORTGAGOR that he shall bear stamp duty, registration charges and other out of pocket expenses for the execution and registration of this deed and reconveyance deed but however each party will bear cost and professional charges of his Solicitor/Advocate.

IN WITNESS WHEREOF the parties have put their hands the day and year first hereunder written.

The Schedule above referred to

Signed and delivered by X the within named mortgagor

Signed and delivered by Y the within named mortgagee

WITNESSES;

1.

2

Deed Format for Gift To Son

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Deed Format for Gift To Son
Deed Format for Gift To Son

THIS DEED OF GIFT is made on……….day of…………between Mr………… s/o……………r/o………….(hereinafter called the Donor) and Mr………………s/o………………..r/o……………………………(hereinafter called the Donee).

WHEREAS the donor is an old man of ……… years of age, having a wife, one son (the donee) and one daughter.

WHEREAS the donor has married his daughter Mrs…….to Mr……………….s/o………………..r/o……………….belonging to a well off family owning large chinks of property and as such she has sufficient means of livelihood is being looked after by her husband in a dignified manner.

WHEREAS the donor has already taken care of the maintenance and livelihood of his wife Smt………vide gift deed dated……….and ………….executed by the donor bestowing upon his wife one house at …………….City…………..and two shops numbering ………..situated at ………City…………

WHEREAS the donor apprehends some property disputes among his wife and children after his death, hence the donor is desirous to execute a gift deed in respect of his house situated at ………….more precisely described in the schedule annexed hereto, in favour of his son (the donee).

NOW THIS DEED OF GIFT WITNESSES AS FOLLOWS:

1. That the donor does, hereby, out of his natural love and affection for his only son, of his free will and without any force, compulsion or undue influence and with a keen desire to see the donee settled and well established in his life, grant, convey and transfer by way of gift to the donee his one bungalow and three Flour Mills (Particulars of which are precisely stated in the schedule annexed hereto). To hold the same unto the said donee and his successors or heirs absolutely and fore ever.

2. That the value of the property, described in the schedule, at present, is Rs………

3. That the donee accepts the gift and takes the delivery of the possession of the entire property so mentioned in the schedule thereto.

4. In proof whereof the donor/executant puts his signature to this deed of gift on the day, month and year first above noted.

Schedule

Sd/-Donor………………….

Sd/-Donee…………………

Witnesses :

1. ……………..

2. ……………..