MODEL FORMAT OF SETTLEMENT DEED

 

MODEL FORMAT OF SETTLEMENT DEED

(Elder Sister to Younger Sister)

 

THIS DEED OF SETTLEMENT executed at ----- on this the -- day of -------- 20--,

BY

 

Mrs.--------,  (Aadhaar No: ------------; Pan No: ---------------),  wife  of Mr.----------,  aged about --- years,  residing  at Old  No.---, New  No.-----, -------  Colony,  ------Street, --------- herein after called the SETTLOR  which   expression wherever  it  occurs  shall mean and include herself, her respective heirs, executors, administrators, legal representatives and assigns of the ONE PART.

  

TO AND IN FAVOUR OF

 

Mrs.-----------, (Aadhaar No: -------------; Pan  No : ---------------), wife  of Mr.-----------, aged about -- years, residing at No.------, -------- Street, -----------, hereinafter called the  SETTLEE which expression wherever it occurs shall mean and include herself, her respective  heirs, executors, administrators, legal representatives and assigns of the OTHER PART.

 

 

WITNESSETH:-

 

WHEREAS the undivided share of the property more fully described in the schedule  here under is the self-acquired property of Sri.-------------, son of Mr.-----------, the father of the Settlor and the Settlee  herein, who had  purchased the same by the Deed of Sale dated --/--/-- registered as Document No.--- of  -----, SRO:-------.

 

 

AND WHEREAS the said -----------------, had put up a flat in the schedule  property  by an agreement of construction with --------- and he was in possession of the property and assessed to property tax by the Corporation of -----------.

 

AND WHEREAS the said -------------, died intestate on --/--/-- was evidenced by the Death Certificate No.D-------------------- leaving behind the his daughters ------ and ------- the settlor and the settlee herein as the sole surviving legal heirs vide; Legal heirship Certificate No.TN---------------, who had jointly inherited the estate of the Late. Sri.-------------.

 

AND WHEREAS  the parties  herein assessed to property tax in their name by the Corporation of -----------.

 

AND WHEREAS the daughter (Mrs.---------)the settlor herein out of love and affection that they borne towards the settlee(Mrs.-------------) herein she being her younger sister  released her right, title interest of her respective 1/2^th undivided share in the schedule mentioned property absolutely by the Settlee herein.

 

NOW THIS DEED OF SETTLEMENT WITNESSETH that in pursuance of the aforesaid desire and out of the natural love and affection that the settlor bear towards the settlee, she being her younger sister, doth hereby settle her share in the Schedule  mentioned property in favour of the  Settlee herein  and the settlee shall take possession of the schedule mentioned property absolutely with all powers of alienation.

 

NOW THIS DEED OF SETTLEMENT FURTHER WITNESSETH:

 

 

1. In sum and substance, the Settlee shall become the absolute owner of the Schedule mentioned property absolutely with all powers of alienation.

 

2. The Settlee  shall have the right to alienate the Schedule mentioned property by way of Sale, Gift, Will or Otherwise.

 

3. The Settlee shall take possession of the Schedule mentioned property and be in absolute possession and enjoyment of the property without any interference by anybody towards the property with all powers of alienation.

 

4. The Settlees shall be entitled to mutate the revenue records in her name including the E.B. service connection in respect of their Schedule mentioned property.

 

 

5. The Settlor further covenants that she shall not have the right to revoke this settlement and she shall at all times do such other acts or acts that may be necessary to confirm and convey absolute title of the schedule  mentioned property in favour of the Settlee.

 

6. Any and all claims, controversies, disputes, differences, arising out of or in connection with or in relation to this deed of Settlement  shall be referred to and finally resolved by arbitration of a Sole Arbitrator nominated by the CNICA. The award rendered shall be final and binding on the parties. The language shall be English and the Venue shall be at --------.

 

SCHEDULE

(Property hereby Settled)

 

Residential Flat bearing No.---, built up area measuring an extent ----- sq.ft., in the Ground Floor, together with ---- sq.ft of undivided share in  land out of -----  square  feet,  bearing  Plot  No.---, --- Cross  Street, -------.Colony, -------------, Comprised  in Survey No.----- and ---- Situated at --------  Village, --------- Taluk, -----------  District.

And whole  property  bounded  on  the :

North  by  : Plot  No.--,

South  by  : --  feet  road,

East  by    : Plot  No.--,

West  by  :  Plot  No.--.

Measuring :

North  to  South  on  the  Eastern  side : --  feet,

North  to South  on  the  Western  side : -- feet,

East  to  West  on  the  Northern  side  : --  feet,

East  to West  on  the  Southern  side  :  -- feet.

 

And  situated  within  the  Registration  District  of ------- and  Sub Registration  District  of ----------.

 

Value of the Settlement Rs.---------- /-

 

IN WITNESS WHERE OF THE SETTLOR HERETO HAVE SET AND SUBSCRIBED HER RESPECTIVE SIGNATURE ON THE DAY, MONTH AND YEAR FIRST ABOVE WRITTEN IN THE PRESENCE OF:

 

 

 

WITNESSES:                                                                           

SETTLOR

1.

 

 

2.

 

 

                                                                                         

                                                                                               Drafted by: