This Deed Of Partition made at Delhi this .. day of , 2000, Between Mr. JD of .. .. residing at . . . . of the one part and Mr. KP, residing at of the other part.
Whereas the parties hereto are the members and coparcener of their joint and undivided Hindu Family and as such own immovable properties consisting of land and building thereon and situate at ...... and more particularly described in the First and Second Schedule here under written and each of the parties hereto is entitled to one-half undivided share in the said two properties.
And Whereas the parties have effected an oral partition of the said properties between themselves as they no longer desired to continue as members and coparceners of their joint family property and also have separated in food, workshop and estate.
And Whereas the parties agreed and the said two properties have been divided and partitioned and the property described in the said First Schedule was allotted to JD exclusively and the property described in the said Second Schedule was allotted to KP exclusively.
And Whereas for the purpose of equal partition, the property in the first Schedule was valued at Rs.5 lacs and the property in the Second Schedule was valued at Rs.3 lacs.
And Whereas the value of the property described in the Second Schedule is less by Rs.1 lac than the value of the other property, D agreed to pay a sum of Rs. 1 lakh to P to compensate for the deficiency in price or value of the share of P.
And Whereas on the aforesaid basis, the parties herein have partitioned the said two properties in the manner indicated above.
And Whereas the parties hereto here by record the said partition.
Now This Deed Witnesseth as follows:
Pursuant to the said agreement the parties hereto hereby admit division of the said joint family properties described in the first and Second Schedule s here under written in tow equal shares to the effect that property described in the First Schedule hereunder written stands allotted to the share of JD to the exclusion of KP and the property described in the Second Schedule hereunder stands allotted to KP to the exclusion of JD.
In order to equalise the shares and the value of the property described in the First Schedule being more than the value of the property described in the Second Schedule by Rs.1 lac JD has paid to KP sum of Rs. 1 lac on the execution of these presents (receipt whereof KP does hereby admit).
In consideration aforesaid, each of the parties hereto both grant and release all his undivided share, right, title and interest in the property allotted to the other of them as aforesaid so as to constitute each party the sole and absolute owner of the property allotted to him, freed and discharged from all rights, title, interest claims and demands of the other party here to or concerning the same but subject to the payment of all taxes, rates, dues and duties and assessment payable to Government or Municipal Corporation or any other public body in respect thereof.