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Indemnity Bond for Property Sale

This indemnity bond is made on April 23, 2020 between Mr. Mohit Malviya, the seller, and Mr. Mahendra Pal, the buyer. The seller owns a property in Shahdara, New Delhi but has misplaced the title deed. However, he guarantees the property is unencumbered. As the buyer agrees to purchase without the title deed, the seller agrees to indemnify the buyer against any claims regarding ownership lacking the title deed. Both parties signed the bond on April 23, 2020 with two witnesses.

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Mohammad Arish
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1K views2 pages

Indemnity Bond for Property Sale

This indemnity bond is made on April 23, 2020 between Mr. Mohit Malviya, the seller, and Mr. Mahendra Pal, the buyer. The seller owns a property in Shahdara, New Delhi but has misplaced the title deed. However, he guarantees the property is unencumbered. As the buyer agrees to purchase without the title deed, the seller agrees to indemnify the buyer against any claims regarding ownership lacking the title deed. Both parties signed the bond on April 23, 2020 with two witnesses.

Uploaded by

Mohammad Arish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • Introduction and Parties: Introduces the indemnity bond, provides the date and location of signing, and details the parties involved: seller and buyer.
  • Terms and Conditions: Details the conditions and obligations, including a description of the property and responsibilities agreed by the parties.
  • Signing and Witnesses: Includes signatures of the seller and buyer and lists witnesses to the agreement.

Indemnity Bond

This Indemnity Bond is made at New Delhi on 23rd day of April of 2020.

BY

Mr. Mohit Malviya, son of Mr. Santosh Malviya, residing at 234, Block B, Shahdara, New
Delhi hereinafter referred to as “the Seller’ (which expression unless repugnant to the context
shall include legal heirs, representatives, executors, administrators) of the One part

In Favour of

Mr. Mahendra Pal, son of Mr. Jogendra Pal, residing at 543, Block B, Shahdara, New Delhi
hereinafter referred to as “the Buyer” (which expression unless repugnant to the context shall
include legal heirs, representatives, executors, administrators) of the Other part.

Recitals

1. Whereas the Seller is the sole, absolute and in possession of immovable property of
House no. 34 admeasuring area of 2500 sqft. (Two Thousand Five Hundred Square
Feet) situated at Block B, Shahdara, New Delhi hereinafter referred to as “the
Property”.
2. Whereas the Seller entered into an agreement with the Buyer to sell the said property.
3. Whereas the Seller has implied to the Buyer that the title deed of the said property has
been misplaced but certain that the said property is free from charge, mortgage and
other encumbrances and requests the Buyer to purchase the said property.
4. Whereas the seller unquestionably issues an indemnity bond guaranteeing the Buyer
from any demand, claim, rights from any person claiming right, title, interest over the
said property.
5. Whereas the Buyer, upon the request of the Seller, is agreed to purchase the said
property without insisting on title deed of the said Property, upon the Seller agreeing
to indemnify the Buyer in the manner hereinafter referred to.

Now This Deed Witnesseth As Follows:

That pursuance of the said agreement and in consideration of the Buyer for not
insisting upon title deed, the Seller hereby convents with the Buyer that the Seller
will hereafter indemnify the Buyer against all claims, demands, actions, proceedings,
loss, damage which may be conferred against the Buyer in result of non-production
of title deed in respect of the said property.

IN WITNESS WHEREOF the parties have put their hands to these presents on 23 rd day April
month and 2020 year.

Signed and delivered by Mr. Mohit Malviya as the


Seller

Signed and delivered by Mr. Mahendra Pal as the Buyer

Witnesses:

A. Ms. Shabana
Daughter of Mr. Javed Azmi
Resident of 23, Block F, Lajpat Nagar, New Delhi

B. Mr. Mujahid Niyazi


Son of Mr. Ashfaq Niyazi
Resident of 34, Mandhata Colony, New Delhi

Indemnity Bond This Indemnity Bond is made at New Delhi on 23rd day of April of 2020. BY Mr. Mohit Malviya, son of Mr. Santos
loss, damage which may be conferred against the Buyer in result of non-production of title deed in respect of the said proper

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