Deed of Partial
Partition Dividing the Joint Family Business only While Other Properties
This Deed of Partial
Partition is made on the .. day of , BETWEEN AK, S/0 PG R/o .
(hereinafter called the first party) of the first part, AG, s/o PG R/o
..(hereinafter called the second party of the second part AND PK
s/o PG, R/o . (hereinafter called the third party ) of the third party.
Whereas the aforesaid
three brothers constituted a Hindu undivided family and the said Hindu
undivided family besides owning immovable properties carried on the business of
General Stone Supplying CO. in the city of …
And Whereas the said
members of the said Hindu family desire to divide the aforesaid joint business
of he joint family Stone Supplying Co. for smoothly and profitably running the
business on partnership basis while keeping the other property of the said
family joint and intact.
NOW THIS DEED
WITNESSES as follows:
all other properties of the Hindu undivided family of which the parties are
constituents will remain intact and joint of the Hindu undivided family as no
partition has been affected of it. Only the business of the family known as
Stone Supplying Co. is partitioned.
the interest of the interest of the Hindu undivided family in the said firm of
Stone Supplying Co. has been determined at Rs .. which is called capital
of the said joint family firm according to balance sheet appended with this
the said capital or Rs .. is now apportioned in equal shares amongst the
parties hereto and accordingly Rs. each has been credited in the personal
accounts of each party in each has been credited in the personal accounts of
each party in the books of the firm so that each party holds the said amount of
Rs. . in severalty.
all the property of the said family firm of stone Supplying Co. has now been
transferred to each party in equal shares severally.
the parties aforesaid covenant with each other to discharge severally all the
liabilities and claims against the family business of Stone Supplying Co.
from this date the said family business of Stone Supplying Co. ceased to exist
as joint family business.
the value of two equal shares amounts to Rs. on which duty is paid.
IN WITNESS WHEREOF
the said parties have set their hands to this deed on the day and year first