PARTITION OF LEASEHOLD PROPERTY
THIS DEED is made at……………….on the……………….day of……………. between X, son of……………….resident of……………….hereinafter called the First Party, of the ONE PART and Y, son of……………. resident of……………….hereinafter called the Second Party, of the OTHER PART.
WHEREAS
(1) By a Deed of lease dated……………….executed between A, son of………………. resident of……………….and B, son of ……………….resident of……………. , the said A demised the land described in the Schedule hereto, to the said B for a period of 99 years on the terms and conditions mentioned therein.
(2) The said B expired on……………….and X and Y being the sons and legal heirs of the said B inherited the said leasehold right of the said B.
(3) The said X and Y desire to partition the said leased premises, so that they may enjoy the partitioned land separately
(4) The Parties hereto have partitioned the said leasehold property and the property described in the Second Schedule hereto has been allotted to the said X and the property described in the Third Schedule hereto has been allotted to the said Y and it has also been agreed between the parties that the said Y will pay a sum of Rs……………….to X for equality of partition.
NOW THIS DEED WITNESSETH THAT in pursuance of the aforesaid agreement and in consideration of the assignment by the said X hereinafter contained, the said Y hereby assigns, grants and transfers to the said X all that the undivided share and interest of the said Y of and in the leasehold land described in the Second Schedule hereto and delineated on the plan annexed hereto and shown as coloured green to hold the same to the said X leasehold rights in severalty for unexpired term of……………….years granted by the aforesaid A by the aforesaid Deed of lease subject to the payment of apportioned annual rent of Rs. …………….and to the performance and observance of the covenants, provisions and conditions contained in the said deed of lease and to be performed by the lessor as affect the land described in the Second Schedule hereto.
(2) In further pursuance of the agreement and in consideration of the aforesaid assignment and grant and a sum of Rs……………….paid by the said Y (the receipt of which is hereby acknowledged), the said X hereby assigns, grants and transfers to the said Y all that the undivided share and interest of the said X of and in the leasehold land described in the Third Schedule hereto and delineated on the plan annexed hereto and shown as coloured red to hold the same to the said Y leasehold rights in severality for unexpired term of…………….years granted by the aforesaid A by the aforesaid Deed of lease subject to the payment of apportioned annual rent of Rs……………….and to the performance and observance of the covenants, provisions and conditions contained in the said Deed of Lease and to be performed by the lessee as affect the land described in the Third Schedule hereto.
(3) Each of the parties hereto covenants with the other:
(a) That during the continuance of the said term and of any renewal thereof, he will pay proportionate part of annual rent to the said A the lessor reserved by the said lease on the day fixed for paying such rent.
(b) That during the continuance of the said term and of any renewal thereof, he will perform and observe the covenants, provisions and conditions contained in the said Deed of Lease and to be performed and observed by the lessee so far as such covenants, provisions and conditions in any way relate to the leasehold land assigned to him.
(c) That he will indemnify and keep indemnified the other party against any costs, charges, damages, claims, loss or expenses incurred by him on account of non-payment of apportioned annual rent or non-performance or observance of any of the covenants, condition and provisions in the Deed of lease, affecting the premises hereby assigned.
(d) That each party shall be entered upon and henceforth hold in severalty without any interruption or disturbance by the other party or any one claiming through, under or in trust for it.
(4) It is hereby declared that the values of the properties mentioned in the Second and Third Schedules hereto is Rs ……………….and Rs……………….
IN WITNESS WHEREOF the parties hereto have hereunto affixed their signatures on the day and year hereinbefore mentioned.
The First Schedule above referred to
The Second Schedule above referred to
The Third Schedule above referred to
Site Plan
WITNESSES
1 ………………………….
A
2 …………………………..
B