Memorandum of Partition

MEMORANDUM OF PARTITION

        This Memorandum of Partition is made and executed on this the ___ day of _________ at __________ by and between:

__________ S/o W/o D/o ___________, Aged about ____ years, Occupation _________, R/o H.No. _________________________

( Hereinafter called the FIRST PARTY)

__________ S/o W/o D/o ___________, Aged about ___ years, Occupation ________, R/o H.No. __________________________

 
( Hereinafter called the SECOND PARTY )

WHEREAS, the First Party and Second Party are the co-owners and possessors of their joint purchased property of the _______ _________________________________________________ Having purchased the same from _________________________ _______________________________________________.

NOW THIS PARTITION DEED WITNESSETH AS UNDER

       WHEREAS the said Parties have mutually and orally partitioned the said property into (2) two portions on the advise of their well wishers, and to serve as record in future period, and they are also in the possession and enjoyment of other portions which is to be partitioned in future.

The property described in SCHEDULE A below is assigned to First Party: __________________ S/o W/o D/o ________________.

       The property described in SCHEDULE B below is assigned to Second Party: _______________ S/o W/o D/o ______________.

       AND WHEREAS from the date of said Oral Partitions the said Parties are enjoying their assigned portions as their absolute owners.

SCHEDULED A

ASSIGNED TO FIRST PARTY

          _________________ S/o W/o D/o ______________.

All That the ______________________________________ ______________________________________ bounded by:

NORTH           :      ______________.

SOUTH           :      ______________.

EAST              :      ______________.

WEST             :     ______________.

This Portion is morefully described in the Plan Red Colour and is worth of Rs._________/- (Rupees _________________ Only).

         SCHEDULED B

ASSIGNED TO SECOND PARTY

         _______________ S/o W/o D/o ________________

All that the ______________________________________ _______________________________________ bounded by:

NORTH            :      ______________.

SOUTH           :      ______________.

EAST              :      ______________.

WEST             :     _______________.

This Portion is morefully described in the Plan Green Colour and it is worth of Rs.__________/- (Rupees __________________ Only).

       AND WHEREAS from the date of this Partition Deed the said Parties shall mutate their names in all the Government and Public Offices in respect of their said assigned portions.

       THAT the said Parties herein declares the said property herein partitioned is free from all encumbrances, sales, gift, will, sureties, bank loans, family disputes, etc.

       THAT: from the date of this Partition Deed the said parties shall make any additions, alterations over the said assigned portions.

       THAT: from the date of this Partition Deed the said Parties shall enjoy their assigned portions as its absolute owners without any obstruction or hindrance either anybody else claiming the said parties in future period, and shall transfer the same to anybody of their choice by way of sale, gift, will, etc., on the light of this document Partition Deed.

       THAT: the said Parties have got perfect and marketable title to execute this Partition Deed of Scheduled Property.

       IN WITNESS WHEREOF the said First Party, Second Party herein put their hands and signatures on this Partition Deed with their own free will without any force after understanding all the contents of this Partition Deed in presence of the attesting witnesses on the day, month and year first above mentioned at ___________.    

WITNESSES:                                                                      

1.                                                      FIRST PARTY

                                                       SECOND PARTY

2.