Gift by Father to his
son of Land with Mortgage
This Deed of gift is
made at ........... this day of .......... 2000, between A son of Shri B
resident of ..... (hereinafter called " the Grantor") of the One Part
and C son of A resident of ............... (hereinafter called "the
Grantee") of the Other Part.
Whereas the grantor
is absolutely possessed of or otherwise well and sufficiently entitled to the
land with building, more particularly described in the Schedule hereto and,
hereinafter called "the said property" subject only to the mortgage
next hereinafter recited.
And Whereas by a
mortgage deed (hereinafter called "the mortgage") dated .................
and made between the grantor of the One Part and Shri D of the Other Part, the
said property was mortgaged to the said D to secure the principal sum of Rs.
................... and interest thereon as therein mentioned.
And whereas a sum of
Rs. .................. towards principal together with Rs. .................. interest thereon to
the date of this deed remains now owing upon the security of the mortgage.
and Whereas the
grantor is desirous of making a gift of the said property, subject to the
mortgage to the donee.
Now This Deed
Witnesseth as Follows:
1.
In
consideration of his natural love and affection for the grantee, the grantor
hereby transfers and conveys unto the donee all that the property particularly
described in the Schedule hereto to hold the same unto the donee absolutely for
ever subject to the mortgage and to the principal sum and all interest
henceforth to become payable in respect thereof.
2.
The
grantee accepts the said gift and hereby covenants with the grantor that the
grantee or his successors, heirs or the persons deriving title under him will
pay principal money and interest secured by and henceforth to become due under
the mortgage and will hereafter keep the grantor, his estate and effects
indemnified from all claims, proceedings and demands in respect thereof.
3.
The
value of the property is Rs. .........................
In Witness Whereof,
the parties aforementioned have hereunto set their hands on the day and year
first above written.
The Schedule above
referred to
Signed and delivered
by the within named grantor
Signed and delivered
by the within named grantee
WITNESSES;
1.
2
