Gift With A Condition For Revocation - Legal Draft

GIFT WITH A CONDITION FOR REVOCATION

THIS DEED OF GIFT is made on………………….day of ………between Mr………..son

of…………….r/o……………(hereinafter called as Donor) and Donee on

this …………………….day of………….in the city of…………………..

AND WHEREAS the donor is anxious to benefit the donee in case

the donor does not return to the city of……….....…and under these

circumstance the donor is making a gift of his properties with a

reconveyance clause.

AND WHEREAS the donor is willing to gift away his properties,

more specifically detailed in the schedule hereto, valuing, at present at

Rs………

AND WHEREAS the aforesaid donee undertakes to reconvey the

peaceful possession and title of the property described hereinafter upon

donor’s return and on his demand, and the donee also promises no to

alienate encumber the aforesaid properties during the lifetime of the

donor.

THIS DEED WITNESSES AS FOLLOWS

1. That the donor does, hereby, out of his free will and

without force, compulsion or undue influence, transfers by way of gift

his entire properties, described in the schedule hereto, to the said

donee. To have and hold the same as beneficial owner for himself and

his heirs and successors subject to the only conditions reconvening

the properties to the donor at this return and on his demand without any

objection and at his expenses.

1. That the donee accepts the gift and takes the physical possession of

the gifted properties with the conditions of reconveyance and non-

alienation of the property during the lifetime of the donor.

IN WITNESS WHEREOF both the Donor and the Donee have signed this

gift-deed on the day, month and year hereinbefore stated .

Witnesses :

1. …………….
2. …………….

Sd/- Donor…………….. Sd/- Donee……………..