RELINQUISHMENT DEED BY A MEMBER OF A HINDU UNDIVIDED FAMILY
THIS DEED OF RELINQUISHMENT is executed on the _______ day of ________
Sh. ________________, S/o Sh. _____________, R/o ________________________ of the first part;
Sh. ___________, S/o Sh. ___________, R/o ____________________ and Sh. __________, S/o Sh. _______________, R/o ________________________ of the second part;
Both parties after it collectedly referring as parties and individually as the first party and the second party respectively, which expression shall be including their related lawful successors, heirs, representatives and assigns.
1. The parties constitute a Joint Hindu Family. The first party does not want to continue an wants to separate all relationship with the joint family.
2. For evading unnecessary controversy and keep peace, the second party has agreed to the demand of first party and parties have adjudged in reaching an amicable settlement, which is fair and just to both parties. All the property of the Joint Hindu Family is shown in the Annexure A to this deed, which is valuing at approximately Rs. ____________.
3. It has been consented between the parties that the first party shall release all his claims and share in Joint Hindu Family property against a consideration of Rs. ______ as paid by the second party.
NOW HENCE THESE PRESENTS WITNESSETH as follows:
1. That for a consideration of Rs. ________ (receipt of which as acknowledged by first party) the first party so relinquishes all his claims, interest, rights and demand in the Joint Hindu Family property.
2. The first party hereby also consents that after the date of this relinquishment deed, first party shall have no interest or share in the Joint Hindu Family property.
3. The first party hereby declares that in per consideration of sum received above by him per his share in the Joint Hindu Family property, the first party has, from the date of this covenant, cut all his relationship from the second party and from the joint family. The first party also declares that from the date of this covenant, he has relinquished and discharged the second party and with all members of Joint Hindu Family from any/all obligations for partitioning Joint Hindu Family property with him at any time falling after the date of execution of this agreement.
4. The second party confirms and declares that the first party has ceased being a member of Joint Hindu family and he shall have nil interest, title or claim concerning the property belonging to the joint Hindu family, from the date of this covenant.
5. This deed has been affected by mutual agreement of the parties. Any party is not empowered to assail it on any reasons, whatsoever.
6. The second party shall keep the original deed. A true copy signed by both the parties shall be kept by first party and which true copy will be considered as effective as the original deed for all purposes and intents.
IN WITNESS WHERE OF, the parties to this deed have set their hands in the presence of
Party of the first part
Party of the second part