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Agreement dividing all of property_ real and personal

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Shared by: Cristal O
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1/17/2008
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Agreement dividing all of property, real and personal. This agreement is between _________, _________, _________, _________, _________, and _________, the heirs of _________, deceased. A died _________[date], leaving certain valuable real estate and personal property. Each of the parties are one of the heirs of A, being entitled each to _____% of the estate of A. The heirs desire to settle and divide the estate without probating it and without a partition suit or litigation. It is agreed by the parties: 1. All of the personal property is to be given to B absolutely, except the money in the bank; B is then directed to purchase a suitable monument and cause the same to be erected at the grave of _________, and pay for the monument out of the money now in the bank; and balance of money left in bank is to be divided into six equal parts and one-sixth is to be given to each of the parties. 2. B is directed to collect all rents, profits, or emoluments due the estate, or that may become due and to promptly divide the same into six equal parts, and give to each of the parties one-sixth less all expenses incurred by B in collection. 3. The parties agree to meet at the home of _________ on the first Monday in _________[month], _________[year], and divide and partition the real estate into six equitable parts, according to the value of each acre, each of the parties to receive a quitclaim deed to one-sixth of the real estate from the other five. In case of the failure of the parties to agree on an equitable partition and division of the real estate, then they are to select three disinterested persons who shall act as arbitrators and appraise the value of each acre, and we then agree to abide by the decision of the arbitrators. 4. In the partition or division of the real estate as agreed on, the share to be allotted to B and C is to be selected out of _________. 5. The windmill now up opposite _________ is to be the property of B, and the water right, and privilege of maintaining the windmill at the place where it now stands, and pumping water from _________ is to remain inviolate to B.
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