THIS DEED OF GIFT made the ________ day of __________
BETWEEN _________________________________________________ (insert the name,
address, etc. of donor) (hereinafter called the trustee) of the ONE PART
AND _______________________________________________ (insert the name, address,
etc. of donee) (hereinafter called the beneficiary) of the
OTHER PART. WHEREAS: 1. By a mortgage (hereinafter called the mortgage) dated the _______ day of
________ and made between of the one part and of the other part the property therein mentioned was demised to the
said for a term of ______ years by way of mortgage to
secure payment of the principal sum of Rs.________ and interest thereon as
therein mentioned.
2. By a transfer of mortgage dated the _______ day of _________ and made
between of the one part and the trustee of the other part the money
owing on the security of the mortgage and the residue of the said term have
become vested in the trustee.
3. The said principal sum of Rs._______ now remains unpaid but all interest
accrued due thereon to the _______ day of _______ last has been paid.
4. The trustee is desirous of giving to the beneficiary the sum of Rs.__________
part of the said mortgage debt and the interest on such part.
NOW THIS DEED WITNESSETH as follows:
1. In consideration of his natural love and affection for the beneficiary the trustee
hereby declares that he will henceforth hold the sum of Rs._________ part of
the said mortgage debt and the interest accrued due since the said ______ day
of ______ last and hereafter to accrue due upon the said sum upon trust for the
beneficiary absolutely.
2. It is hereby declared that all statutory and other powers for the time being
vested in the trustee under or by virtue of the mortgage shall remain and be
exercisable by the trustee alone without the concurrence of the beneficiary
PROVIDED ALWAYS that the said sum of Rs.________ and the residue of
the said mortgage debt with the interest on the said sum and on the residue
respectively shall be payable rateably without any preference or priority out of
any monies which shall be received by the trustee upon any exercise of any of
the said powers or otherwise under or by virtue of the mortgage to the extent to
which such monies shall be applicable for the said respective purposes.
3. The expressions “the trustee” and “the beneficiary” herein before contained
shall include their respective personal representatives and assigns except where
the context otherwise requires.
IN WITNESS etc.

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This is a reference draft reproduced for study and adaptation. Court rules, court fees and the correct forum vary with the facts and the value of the claim, so have the document checked and filed by an advocate. A defective application can be returned or dismissed even when the case itself is good.

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Deed Deed of Gift by Declaration of Trust of Part

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