SETTLEMENT AGREEMENT WITH THE HELP OF CONCILIATORS
THIS AGREEMENT OF SETTLEMENT made the…………………day of………20……… between A S/o Late D r/o ………………… (hereinafter referred to Party No. 1), B S/o Late D r/o…………(hereinafter referred to Party No. 2), Smt C wto Shri r/o ……………(hereinafter referred to Party No. 3 and Shd X S/o ………r/o………, Shri Y S/o………………r/o ………and Smt Z wife of Shri …………r/o……………(hereinafter referred to as the conciliators)
WHEREAS
(1),The aforesaid parties are the sons and daughter of Late D. It is agreed between the parties hereto as under.
(2) That the properties described in the first schedule hereunder written are allotted to the Party of the First Part; the properties described in the second schedule hereunder written are allotted to the party of the Second Part and the properties described in the Third Schedule hereunder written are allotted to the party of the Third Part.
(3) The parties agree that the properties allotted to each of them shall be deemed to be in full payment of their shares in the said properties.
(4) The parties agree that they will not make any claim in any of the said properties except what have been allotted to them and each of the party hereby doth grant and release all his/her undivided share, right, title and interest in the said properties which is allotted to the other or others of them as aforesaid so as to constitute each party the sole and absolute owner of the property allotted to hin/her, freed and discharged from all claims and demands of the other parties -hereto or concerning the same, subject to the payment of all taxes, rates, dues and demands payable to government or local municipal corporation or any other public corporation or body in respect thereof.
(5) The parties agree that each party will execute and get registered, any deed or document, if necessary which may be required for fuller and more perfectly and effectually assuring the properties allotted to the others but the cost for the same shall be borne by the party who requires such deed or document to be executed.
(6) The said properties will be physically partitioned in accordance with this agreement and the properties allotted to the respective parties will be mutated in the land revenue and local Municipal Corporation record and all the parties shall co-operate and take action for mutation of the properties in the land revenue and local municipal corporation record.
(7) The conciliation proceedings will terminate with the execution of these presents. The conciliators have put their hands to these presents to authenticate the settlement agreement
(8) The parties shall take steps to settle the cost of conciliation (including the remuneration of Shri……. Architect and valuer and Shri ……Jeweller and valuer of Jewellery and diamonds) to the conciliators within a period of ten days from the date of these presents.
The First Schedule Above referred to
The Second …………………do……………
The Third……………… do …………………
In witness whereof the parties and conciliators as confirming parties hereto have hereunto set and subscribed their respective hands the day and the year first hereinabove written.
Signed and delivered by Shri A the within named Party No. 1 in the presence of:
1.
2.
Signed and delivered by Shri B the within named Party No. 2 in the presence of
1 .
2.
Signed and delivered by Smt C the within named Party, No. 3 in the presense of.
1.
2.
The within named conciliators, the confirming parties in the presence of
1 .
2.
Signed and delivered by
Shri …………..
Shri …………..
Shri …………..