GIFT WITH A CONDITION FOR REVOCATION [CD1]
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 circumstances 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
Where as 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.
2.
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 .
Sd/- Donor……………..
Sd/-
Donee……………..
Witnesses:
1. …………….
2. …………….
3.
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