Family Settlement
| Updated at | March 2010 |
MEMORANDUM RECORDING FAMILY SETTLEMENT
THIS MEMORANDUM RECORDING ORAL FAMILY SETTLEMENT is made at _________ this ________ day of ____________ between Shri ____________ an Indian inhabitant residing at __________ _________ _________ (hereinafter called "the Party of the First Part") of the FIRST PART, Shri ______________, an Indian inhabitant residing at _____________ _____________ (hereinafter called "the Party of the Second Part") of the SECOND PART and Shri _________, also an Indian inhabitant residing at ____________________________________ (hereinafter called "the Party of the Third Part") of the THIRD PART. and reference to the parties hereto shall, unless repugnant to the context or meaning thereof mean and include their respective successors and assigns.
WHEREAS:-
The parties hereto are related to each other, the party of the first part being the ____________ of the party of the Second Part etc;
Serious disputes and differences have arisen between the parties hereto, relating to ___________, and which have disrupted the peace and harmony of the family and affected the business and family relations and threatened to resort to litigation;
With the object of resolving the aforesaid disputes arising out of the conflicting claims made by the parties hereto as stated above and for effectuating a permanent solution of all the outstanding disputes once and for settlement was arrived at for ensuring family peace and harmony after considering what was best in the interest of the parties and in expectation that the settlement would result in achieving amity and goodwill among the Parties and it was agreed that the parties and it was agreed that the settlement arrived at would be final and binding upon all the parties hereto and avoid any further disputes and or differences amongst the parties hereto.
The parties hereto, have come to a settlement after the aforesaid discussion with the help of mutual friends to resolve the disputes and differences, and a memorandum of settlement with certain terms and conditions was drawn with a view to avoid any future disputes and or differences amongst the parties hereto and that this memorandum has been entered into to record the said terms and conditions of the Family Settlement already agreed upon by the parties hereto.
NOW THEREFORE THIS MEMORANDUM OF FAMILY SETTLEMENT WITNESSETH THE SAID TERMS AND CONDITIONS AS FOLLOWS:
In pursuance of the said agreement and in consideration of the premises, the parties...
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