About this document:
This is a definitive agreement for families to engage in a well defined family arrangement in respect of division of a family property in absence of a Will or testament. The document can be used by siblings in blood relationship as a standard arrangement. The document has been drawn to provide equal importance to the interests of all the parties. It can, however, be altered to favour either of the users in line with the agreement reached between the parties.
Who will use this document?
Families in need of formalizing a family arrangement for the purposes of disposing of a family property left without Will or testamentary document.
Key features:
· Designed to cover a peculiar situation where siblings seek to devise a mechanism to divide parental property;
· May be used for single or multiple properties;
· Appointment of an Attorney;
· Provides a complete framework;
· Protects and binds all parties;
· Standard document to meet fairly common situations;
· Just insert names and details of the property and the agreement becomes usable for most eventualities;
This document includes provisions for:
· Appropriate legal provisions - warranties, exclusions, indemnities, etc.;
· Terms of settlement that provide ideas;
· Warranties and representation of the parties;
· Retainer of original documents;
· Successors and assigns;
· Reasonableness;
· Sale of property and division of proceeds;
