Gift By Father To His Son Of Land With Mortgage Legal Draft Template

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 toSigned and delivered

by the within named grantorSigned and delivered

by the within named granteeWITNESSES;1.2