Assignment of a Decretal Debt (India)
This template is used for the legal transfer of a court-decreed debt from one party to another. It establishes that the original creditor (Assignor) is transferring the full benefit of a money decree, including the principal amount, interest, and costs, to a new party (Assignee) for an agreed payment.
ASSIGNMENT OF DECRETAL DEBT
THIS DEED is made _________ (as in Precedent No. 3).
WHEREAS the Assignor obtained a simple money decree in Suit No____________________
of ________________________ of the Court of the _____________________ decided on._________ against CC.;
AND
WHEREAS the said CC. did not file any appeal and the said decree became final;
AND
WHEREAS the Assignor is unable to execute the said decree on account of his continued absence from __________________________.;
AND
WHEREAS if the said decree is not executed on or before ___________________ it will become time-barred;
AND
WHEREAS the sum of Rs _______________ is now owing on account of principal, interest and cost on the said decree;
AND the said AA. has agreed to transfer the said decree to BB. for the sum of Rs ______________
NOW THIS DEED OF ASSIGNMENT WITNESSES that in pursuance of the said agreement and in consideration of the said sum of Rs________________ the said AA. hereby assigns unto the said Assignee ALL THAT sum of Rs_______________ now owing on the said decree and all future interest to become due and the full benefit of the said decree and judgment TO HOLD unto the said Assignee the said decree and all interest, benefit and obligation thereunder.
IN WITNESS whereof (as in Precedent No. 3).
Witness: 1. AAB.
Assignor.
2. BB.
Assignee.
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