BOND BY VENDOR TO INDEMNIFY PURCHASER AGAINST POSSIBLE CLAIMS UNDER LOST TITLE DEEDS
BY THIS BOND I ___________________________________ [insert the name, address etc. ofvendor] bind myself to [insert the name, address etc. ofpurchaser] for the payment to him of the sum of Rs. __________.
Signed by me this _______ day of __________.
WHEREAS :
- By an agreement dated the _________ day of ________ the said [vendor] agreed to sell and the said [purchaser] agreed to purchase All THAT [property] hereinafter preferred to as “the said premises” and more fully described in the Schedule “A” hereto, free from all encumbrances for the price or consideration of Rs. _________.
- On the investigation of the title of the said [vendor] it appeared that certain documents of title to the said premises namely the documents mentioned or described in the Schedule “B” hereto were not in the possession of the said [vendor] and it is not known in whose possession the same are.
- The said [purchaser] nevertheless agreed to complete the said purchase upon the said [vendor] executing as well the conveyance of the said premises to the said [purchaser] as also the above-written obligation conditioned as is hereinafter expressed.
NOW THE ABOVE WRITTEN OBLIGATION is conditioned to be void in either of the cases following:
- In case all the said documents shall be found and delivered to the said [purchaser] or his successors in title free of expense to him or them and without notice of or effectually freed and discharged from any estate right or claim into or upon the said premises adverse to or in derogation of the title of the said [purchaser] or his successors in title on the part of any person claiming or appearing to be entitled to claim under or by virtue of the said documents or any of them.
- In case during the period of [twelve] years from the date hereof the said lands and premises shall be quietly held and enjoyed by the said [purchaser] or his successors in title without any lawful interruption or disturbance by any person or person claiming under or by virtue of the said documents or any of them.
Signed etc.
SCHEDULE A [Property]
SCHEDULE B [Documents]
[Signature and seal of obligor]
