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

1 .

         2. Signed and delivered by B, the within named debtor

                             II. COMPROMISE DEEDS                        

 

 [CD1]RECONVEYANCE BY TRUSTEE OF SURPLUS PROPERTY AFTER PAYMENT OF ALL