Description

AGREEMENT OF REFERENCE TO TWO ARBITRATORS FOR PARTITION OF PROPERTIES

This is a "Readymade Format for Agreement of Reference to Two Arbitrators for Partition of Properties".Legally required caluses are already in agreement Format in addition to, if is required then you can add or remove the conditions.

An Agreement of Reference to Two Arbitrators for Partition of Properties is a legal contract in which two parties agree to refer any disputes arising from the partition of their jointly-owned properties to two independent arbitrators for resolution. This type of agreement is often used when two or more parties jointly own a property and wish to divide it among themselves, but are unable to reach a mutual agreement on the terms of the partition.

Benefits of an Agreement of Reference to Two Arbitrators for Partition of Properties include:

• It allows the parties to resolve disputes related to the partition of their jointly-owned properties in a private and confidential manner, rather than in court.
• It allows the parties to choose arbitrators who are experts in the field of property partition and who can provide a fair and impartial resolution to disputes.
• It can save time and money compared to traditional litigation.
• It can be more efficient, as the arbitration process can be completed in a shorter time frame and with less formalities and procedures than a court trial.

• The Agreement of Reference to Two Arbitrators for Partition of Properties is a legal document in which parties involved in a property dispute agree to submit their matter to arbitration for the purpose of partitioning the properties. It is a voluntary agreement between the disputing parties to resolve their issues through the intervention of arbitrators, rather than going through a court litigation process.

  In India, the legality and requirement of an Agreement of Reference to Two Arbitrators for Partition of Properties are governed by the Arbitration and Conciliation Act, 1996. The Act provides a statutory framework for arbitration proceedings, including the resolution of property disputes through arbitration.

  The Act recognizes the autonomy of parties to agree on the procedure and rules for arbitration, including the appointment of arbitrators and the process of partitioning the properties. The agreement must comply with the requirements set forth in the Act to be legally valid and enforceable.

  Key points regarding the legality and requirements of such agreements under Indian law include:

  1. Voluntary Agreement: The agreement must be entered into voluntarily by all parties involved, indicating their intention to submit the dispute to arbitration.

  2. Written Form: The agreement should be in writing, detailing the parties involved, the scope of the dispute, the appointment of two arbitrators, and the terms and conditions of the arbitration process.

  3. Compliance with Arbitration Act: The agreement should comply with the provisions of the Arbitration and Conciliation Act, 1996, including the requirements for the appointment and qualifications of arbitrators, the conduct of arbitration proceedings, and the enforceability of arbitration awards.

  4. Finality and Enforceability: The decision reached by the arbitrators in the partition process is binding on the parties and has the same legal effect as a court judgment. It can be enforced through the courts if necessary.

  The Agreement of Reference to Two Arbitrators for Partition of Properties provides an alternative and efficient means of resolving property disputes. It allows parties to have their issues resolved by impartial arbitrators and offers benefits such as confidentiality, flexibility, and quicker resolution compared to court litigation.

   

• "partition agreement"
• "arbitration"
• "jointly-owned property"
• "property division"
• "dispute resolution"
• "property experts"
• "fair and impartial"
• "cost-effective"
• "efficient"
• "private and confidential"