RECONVEYANCE BY TRUSTEE OF SURPLUS PROPERTY AFTER PAYMENT OF ALL DEBTS
THIS RECONVEYANCE is made at………………on
this………………day of………………20…………between A
son of resident
of………………(hereinafter called "the trustee") of the ONE PART and B son
of………………resident of………………(hereinafter called "the debtor") of the
OTHER PART.
WHEREAS
(1)
By a deed of assignment dated………………and
expressed to be made between the said B of the FIRST PART (herein called the
debtor), A of the SECOND PART (herein called the Trustee) and such of the
creditors of the debtor as should assent thereto of the THIRD PART hereinafter
called the said deed, whereby the debtor assigned all his property to the said
A, upon the trust herein contained for the benefit of the creditors of the
debtor, who should assent thereto and it was provided in the said deed that if
any time all debts and all other costs, charges, expenses payable under or by
virtue of the said deed should be paid by the operation of the trust thereof or
otherwise howsoever, the trustee will reconvey the surplus property to the
debtor.
(2)
All debts, and all other costs, charges and
expenses payable under or by virtue of the said deed have been paid and the
property more particularly described in the Schedule hereto, hereinafter
referred to as the said property, has remained surplus with the trustee
(3)
The debtor has requested the trustee to
reconvey the said property to him freed and discharged from the trust of the
said deed which the trustee has agreed to do.
NOW
THIS DEED WITNESSETH AS FOLLOWS
(1)In
consideration of the premises and in pursuance of clause in the said deed for
reconveyance of surplus property, the trustee hereby conveys unto the debtor
the said property and TO HOLD the same unto the debtor freed and discharged
from the trusts of the said deed
(1)The
debtor hereby releases and discharges the trustee from the trusts of the said
deed and hereby covenants to save harmless and keep indemnified the trustee
from all claims, actions, demands, proceedings, costs and expenses, whatsoever,
in respect of the said property and of the acts done by him in relation to the
said property.
IN
WITNESS WHEREOF, the parties hereto have hereunto set and subscribed their
respective hands the day and year first hereinabove written
Schedule
WITNESSES
Signed
and delivered by A, the within named trustee
Signed and delivered by B, the within named
debtor
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