Conveyancing: Purpose of A Deed
Conveyancing: Purpose of A Deed
Purpose of a Deed:
The purpose of any deed is to bring about clarity, lucidity and certainty to what
has been agreed upon by the parties thereto. Hence, a deed should avoid any scope
for vagueness and ambiguity. Therefore, the words used in a deed must be plain,
certain and unambiguous. This can be achieved when the contractual terms and
conditions mutually agreed upon by the parties are inserted into a deed so as to give
legal efficacy to it. Rules of construction of a deed are generally based on the rules of
interpretation. Further, the real nature and efficacy of a deed should be understood
from its entirety.
Essential components of a deed:
A deed usually consists of the following parts:
(i) Description of the deed
(ii) Date
(iii) Parties to the deed
(iv) Recitals
(v) Testatum
(vi) Testimonium
(vii) Signatures and attestations.
(i) Description of deed:
(ii) Date:
The date specified in the deed is treated as the date on which the deed is
said to have been executed. However, the absence of date shall not invalidate a
deed as evidence can be advanced to prove the date of its execution. Date of a
deed also assumes importance for the obvious reason that as per Sec. 23 of the
Registration Act, 1908, a document must be registered within four months of its
execution, subject to a few exceptions.
In order to avoid any risk of forgery, the date should be written both in
figures as well as in words.
In a deed, the name of the executing party or transferor comes first and
thereafter comes the name of the claiming party or the transferee. The details
of the executing party and claiming party should be clearly mentioned to avoid
any confusion in regard to identity of such parties.
In the case of juristic persons, like a company or corporation, the name of
the authorized person representing such juristic person should also be given.
In the case of an incompetent person like a minor or lunatic, the name of
guardian or next friend should be mentioned as such persons are incapable of
acting on their own.
(iv) Recitals:
Recitals trace events about the subject matter of the conveyance. Recitals
serve two purposes: tracing the title of the executing party and motive for
executing the deed by the executing party.
A recital consists of two parts, viz., narrative recital and introductory recital.
Narrative recital touches upon the ownership of the transferor while the
introductory recital deals with the motive for execution of the deed / document.
Narrative recital in a deed is followed by the introductory recital.
Recitals generally start with the words “WHEREAS” and subsequent paras
begin with the words “AND WHEREAS”.
(v) Testatum:
Testatum consists of consideration, receipt, operative words, parcels,
habendum, exceptions and reservations and understanding.
Testatum contains the operative part of a deed. It contains the details and
particulars as to what is being transferred and payment and receipt of
consideration.
Testatum begins with the standard expression like:
“NOW THIS DEED WITNESSES AS FOLLOWS”.
a) Consideration:
It is always necessary to state in clear and cogent words the payment of
consideration and receipt of the same by the executing party by giving
necessary details like mode of payment, receipt number, date etc.
b) Operative words:
Operative words in a deed emphasize about what is being conveyed or
transferred and terms and conditions governing the same.
c) Parcels:
Parcels is nothing but complete description of the property being conveyed
under the deed / document.
d) Habendum:
Habendum is nothing but the clear expression of intention of the executing
party or transferor for the holding and enjoyment of property by the
claiming party / transferee, subject to certain terms and conditions stated
therein.
e) Covenants and understandings:
All the covenants entered into by the parties at the time of execution of
deed must be distinctly stated so as to inject clarity and lucidity to the deed.
(vi) Testimonium:
Testimonium describes that the parties have signed the deed out of their
free will and volition. Testimonium generally begins with the words:
“IN WITNESS WHEREOF THE PARTIES HAVE SIGNED THIS DEED ON
THIS DAY…….”.
2. Operative Part:
Testatum: This part clearly sets out the intention and transaction between the parties including
consideration involved.
Habendum: This part defines the interest conveyed and to set out the limitations on the
property involved. For ex: Property involved in the deed is encumbered/unencumbered.
Exceptions and Reservations: This part contains the exceptions and reservations according to
which the subject matter of the deed should be dealt with. For example: in lease deed, if the lessor
wants to retain the right to use parking area of the property leased, then the same should be
expressed clearly.
right to use parking area of the property leased, then the same should be expressed clearly.
Forfeiture and Renewal: This part states the conditions which if not adhered to would cause
the deed to stand terminated (along with the consequences) and the conditions which should be
followed if the parties want to renew the deed. For ex: In sale deed, if seller wants the buyer to pay
the consideration in 4 installments, failure of which will cause the deed to terminate, then the same
should be mentioned precisely in the deed.
3. Formal Part:
Testimonium: This part sets forth the fact that the parties have signed the deed. It usually
begins with the word: “IN WITNESS WHEREOF, the aforesaid parties to the deed, on the above-
mentioned date and place have set forth their hands in the presence of witnesses”.
Signature of the Parties: Immediately after the testimonium, the parties put their signatures in
the presence of witnesses on the left side of the signing page.
Attestation by witnesses: After signature of the parties, the witnesses put their signatures
mentioning, their name, father’s name, address and occupation on the right of the signing page in
line with the signature of parties and in the presence of executants.
Parcel/Schedule of Property OR Schedule/Annexures: If subject matter of the deed is
immovable property, then the description of the property indicating its surroundings should be
given mandatorily in parcel/schedule to the deed.
However, in case of movable property, if the nature of the deed demands, then the
schedule/annexure can be provided as per the requirement of the properties. For example: If the
parties want the particular rights related to the subject matter of the deed to be mentioned
separately in the annexure, then the draftsman should proceed accordingly.
……………………………………………………………………………………………………………
SALE
DEED
PROBLEM
AND
Sri. Jacob, S/o. John, aged about 55 years, R/o. Guntur, hereinafter described as
VENDEE or THE SECOND PART , which expression shall include his legal heirs,
nominees, successors, assignees etc.,
WHEREAS the VENDOR is the absolute owner of the property comprising
residential house, the more particulars of which are described in the schedule
appended hereto.
That the VENDOR has delivered the vacant possession of the schedule property
to the VENDEE and now onwards the VENDEE shall be liable to pay all applicable
taxes to the Municipal and other statutory authorities.
That the VENDOR has delivered all original link documents including all other
documents in original to the VENDEE and the receipt of the same is hereby
acknowledged by the VENDEE.
That the VENDOR hereby unconditionally declare and assures the VENDEE that
he is the absolute owner of the schedule property and his title to the schedule
property is free from any encumbrance in the form of charge, mortgage or interest in
favour of any third party and if proved otherwise, any loss or damage caused to the
VENDEE on account of the same will be indemnified by the VENDOR at her own
expenses from all such losses either direct, indirect or incidental.
IN WITNESSES WHEREOF, the parties to this deed append their signatures on this day
ofthis
October 2020, in the presence of the following witnesses.
Station: Guntur,
Date: 18-10-2020
Witnesses: -
1. Name: Address:
2 Name: Address:
Signature of VENDOR
Signature of VENDEE
SCHEDULE OF THE PROPERTY
Guntur District, DRO, Guntur, within the limits of Guntur Municipal
Corporation area, Guntur city, Arundal pet, house property Single storied
double bed room house, bearing D.No.123/1A with all easement rights
and the property is being bounded by:
Signature of
the VENDOR
……………………………………………………………………………………………………………
MORTGAG
E
DEED
MORTGAGE DEED
THIS DEED OF MORTGAGE is executed on this day of 27th October , 2020 by and in
between Kailash Rao, S/o.xxx, R/o. D. No.111. Prakash Nagar, Guntur hereinafter
referred to as the Mortgagor as the FIRST PART
IN FAVOUR OF
Koteswara Rao, S/o.xxxx, R/o. Guntur hereinafter referred to as Mortgagee as the
SECOND PART.
WHEREAS the Mortgagor is the absolute owner of the single storied double
bed room RCC roof building house situated at D.No.111, Prakash Nagar, Guntur, and
the more particulars of the said property are described in the B schedule annexed
hereunder and the said property is hereinafter referred to as the schedule property.
building and further to keep the building in an ordinary and reasonable way.
4. The mortgagee undertakes to pay the promised amount on the date of
execution of the mortgage deed.
5. The mortgagor undertakes to repay the principal amount with interest within a
period of two years from the date of execution of the deed.
6. The rate of interest shall be 24 per cent per annum calculated on compounding
basis.
7. In the event of the mortgagor failing to pay the borrowed amount on the
agreed date then the mortgagee shall have the right to sell the property.
Witnesses:
1.
Name :
Address:
2.
Name:
Address:
LEASE
DEED FOR
RESEIDENTI
AL
PURPOSES
LEASE DEED
THIS DEED OF LEASE is executed on this 2 8TH DAY OF OCTOBER, 2020 at Vijayawada by
and in between Sri A, S/o. xxx, aged about …. years, R/o. Vijayawada and hereinafter
referred to as the LESSOR, which expression shall include his legal heirs, nominees,
successors, assignees and executors etc., as the First Part
AND
Sri. B, S/o. Sri. xx, aged about … years, R/o. Vijayawada, and hereinafter referred to as the
LESSEE, which expression shall include his legal heirs, successors, nominees, assignees
and executors etc., as the Second Part
WHEREAS the LESSOR is the absolute owner of the house property admeasuring
600 Sq. feet situated at Dornakal Road, Vijayawada, which is more fully described in the
schedule appended hereto and hereinafter referred to as Leasehold premises.
And WHEREAS the LESSOR has offered to let out the house on lease for residential
purpose.
And WHEREAS the LESSEE approached the LESSOR for taking the leasehold
property on lease for his residential accommodation and the LESSOR agreed to let out
the leasehold premises to the LESSEE on mutually agreed terms and conditions.
9. The LESSEE undertakes to maintain the leasehold premises in a neat and tidy
premises in the same condition on expiry of the lease period and thereafter, the
IN WITNESS WHEREOF, the parties to this deed append their signatures on this
28th day of October, 2020in the presence of the following witnesses.
Station: Vijayawada Signature of
LESSOR
Date:28-10-2020
Signature of
LESSEE
Signature of Witnesses:
1.
Name:
Address:
2.
Name:
Address:
Signature of LESSOR
Station: Vijayawada
Date: 28-10-2020
……………………………………………………………………………………………………………
LEASE
DEED FOR
COMMERC
IAL
PURPOSES
LEASE DEED
THIS DEED OF LEASE is entered into on this 28TH DAY OF OCTOBER, 2020 by and in
between Sri. X, S/o. xxxx, aged about -- years, residing at Bhavanipuram, Vijayawada,
and hereinafter referred to as the LESSOR or the First Part which expression shall include
his legal heirs, nominees, successors, assignees and executors etc.,
AND
Sri. Y, S/o. Sri. xxx, aged about --- years, R/o. Rayanapadu Village, Ibrahimpatnam
Mandal, Krishna District, which expression shall include his legal heirs, successors,
nominees, , assignees and executors etc., and hereinafter referred to as LESSEE or
SECOND PART.
AND WHEREAS the LESSOR was approached by the LESSEE for taking the
schedule property herein on lease from the LESSEOR and the LESSOR agreed to let
out the schedule property to the LESSEE for warehouse purposes on mutually
agreed
terms and conditions as set out hereunder.
1. The LESSOR agrees to let out the leasehold property on lease to the LESSEE for a
period of 3 years. The Lease commences from the 1st of November, 2020 and ending
with 31st day of October 2023, subject to renewal with the mutual agreement of both
parties.
.
1. The LESSOR agrees to let out the schedule property to the LESSEE on a monthly rent of
Rs.20,000/- (Rupees twenty thousand only) and interest free advance of Rs.50,000/-
(Rupees fifty thousand only) paid over to him by the LESSEE and the receipt of the same
is acknowledged by the LESSOR, vide receipt bearing No: issued and delivered to the
LESSEE.
3. The LESSOR holds out to the LESSEE that his title to the schedule property is absolute free
any defect and further no encumbrance was created in the schedule property in favor of
any third party.
4. The LESSOR agrees to pay all the taxes to the schedule property and make it convenient
for the usage of the schedule property by the LESSEE.
5. The LESSOR has delivered the physical possession of the property to the LESSEE on
and the same has been acknowledged by the LESSEE.
6. The LESSEE undertakes to pay the rent to the leasehold property on or before 5th day of
every succeeding month during the currency of lease period.
8. The LESSEE shall pay all the maintenance charges, water charges and electricity
charges to the leasehold property from his own which are in addition to the monthly rental
charges.
9. The LESSEE undertakes that the leasehold property shall be used for his warehouse
purpose and shall not sub-let either whole or any part of the leasehold property without
prior written consent of the LESSOR.
10. The LESSEE undertakes to maintain the leasehold property in a neat and tidy condition at
all times.
11. Any minor repairs to the leasehold property shall be done by the LESSEE. However, major
repairs shall be borne by the LESSOR at his own cost and expense.
12. The LESSEE shall allow the LESSOR or his authorized person to inspect the leasehold
property at all reasonable times.
13. All the Municipal taxes and dues to statutory authorities (except stated at Sl. No.6)
shall be borne by the LESSOR only.
14. The LESSEE shall vacate and deliver the vacant possession of leasehold property to
the LESSOR upon the expiry of the lease period by delivering back the physical
possession of the schedule property in the same condition and status and thereafter,
the advance amount of Rs. 50,000/- (Rupees fifty thousand only) shall be refunded to
the LESSEE without any interest.
15. The LESSEE shall not undertake any alterations or modifications to the schedule
property without prior written consent of the LESSOR.
16. The LESSOR shall have a right to terminate the lease at any time before expiry of
lease period, if the LESSEE uses the leasehold property for any un-authorized or
illegal purpose, by giving a notice not less than 30 days.
17. All the disputes arising out of any terms of lease shall be subject to the
IN WITNESS WHEREOF, the LESSOR AND THE LESSE append their signatures to this
deed on this day of 28th day of October 2020 in the presence of the following
witnesses.
Signature of LESSOR
Signature of LESSEE
Station: Vijayawada
Date: 28-10-2020
Signature of Witnesses:
1.
Name:
Address
2.
Name:
Address
Date: 28-10-
2020
……………………………………………………………………………………………………………
GIFT
DEED
………………………………………………………………………………………………………………..
GIFT DEED
THIS DEED OF GIFT is executed on this 28TH DAY OF OCTOBER, 2020 at Vijayawada by
and in between Mr. A, S/o. xx, aged about 70 years, R/o. D.No: 20-12-201, Labbipet,
Vijayawada, and hereafter referred to as the DONOR or the First Part, which
expression shall include for all purposes and intents his legal heirs, assignees,
nominees, executors etc.,
AND
Mr. B, S/o. xxx, aged about 10 years, being minor represented by his mother-natural
guardian Ms. C, W/o. xxx, aged about 30 years, and hereinafter referred to as the
DONEE or the Second part, which expression shall include for all purposes and intents
his legal heirs, nominees, assignees, executors etc.,
WHEREAS the DONOR has out of profound love and affection towards the
DONEE, as the DONEE happens to be his grandson, desires to relinquish and part
away his absolute rights and interests in his entire property comprising movable and
immovable properties without any monetary consideration. The full and complete
particulars of the said properties described hereinafter as the scheduled property
intended to be given over to the DONEE by the Donor are enumerated in the
schedule annexed hereunder.
AND WHEREAS the DONOR has intended to relinquish his absolute rights,
title, interest in the scheduled property for the exclusive benefit and enjoyment of the
DONEE so as to make him the as absolute title holder of the schedule property
without any limitation whatsoever as to enjoyment, possession and ownership.
NOW THIS DEED OF GIFT WITHNESSETH AS FOLLOWS:
1. The DONOR has relinquished all his rights, interests and claims over the
favour of the DONEE and the DONEE has accepted the same.
2. The DONOR has delivered all the original documents and link documents and
all necessary forms duly signed by him to the DONEE for enabling him to
record his name in all the Municipal, Electricity and other public records by
replacing the name of the Donor.
3. That all the Taxes and dues to the Municipal and other statutory authorities
hereinafter shall be paid by the DONEE.
4. That the DONOR expresses his desire that absolute ownership in regard to the
schedule property shall be enjoyed by the Donne, without any limitation
whatsoever.
Signature of DONOR
Signature of
DONEE
Station: Vijayawada,
Date: 28-10-2020
Witnesses:-
1Name; Address:
2. Name; Address:
Name:
Address:
Station: Vijayawada,
PROMISSOR
Y
NOTE
Problem
Venkata Ramana, S/o. Govinda Naidu, aged
30 years, R/o. D.No:8/280, Eluru Municipal
Town wanted a loan of Rs. 50,000/- at the
interest rate of 15% p.a. from Sundaraiah,
S/o. Prabhakar, R/o. the same town. Draft a
promissory note.
………………………………………………………………………………………………………………….
DEMAND PROMISSORY NOTE
Date: 29-10-2020
ON DEMAND I, Venkata Ramana, S/o. Govinda Naidu, resident of D.No:8/280,
Eluru Municipal town, West Godavari District, do hereby unconditionally promise to
pay an amount of Rs. 50,000/- (Rupees fifty thousand only) along with interest of 18
per cent per annum either to Sundaraiah, S/o. Prabhakar, resident of Eluru Municipal
town, West Godavari District, or to his order for value received by me.
Rs.1/-
Revenue
stamp
Witnesses:-
1.
Name:
Address:
2.
Name:
Address:
Signatur
e of
Scribe.
……………………………………………………………………………………………………………
WILL
Problem
I state that I own a property, which is situated behind A.C. College, Guntur and
full and complete details of the said property which I desire to bequeath by this
present will are more fully described in the schedule annexed hereto. I have neither
sons nor daughters during my life time and my wife died in the year 1999 and
therefore, I am a widower.
Signature of Testator
Station: Guntur
Date:29-10-2020
Witnesses: -
1.
Name:
Address:
2.
Name:
Address:
SCHEDULE OF THE PROPERTY
Signature of the
testator.
Date: Guntur
Place:29-10-2020
……………………………………………………………………………………………………………
GENERAL
POWER
OF
ATTORNE
Y
GENERAL POWER OF ATTORNEY
IN FAVOUR OF
Sri. Rajeswara Rao, S/o. Venkata Rao, aged 40 years, residing at Guntur and
hereinafter referred to as the ATTORNEY.
1. To manage the schedule property and the real estate business to the best
interests and for the benefit of the EXECUTANT.
2. To manage and improve the said property, including layout, construction,
4. To file suits and represent the suits in competent courts in regard to any
securities.
7. To borrow money from the creditors for maintenance of the property.
8. To execute and register any sale deed, exchange deed in respect of the
schedule property.
9. To enter into contracts with developers, builders and to appoint agents with
regard to any manner in respect of the real estate business.
10. To appoint agents, employees, including the power of termination and
removal of such employees and agents.
11. To construct buildings and to sell the land or buildings by way of public auction
or otherwise and also to execute sale deeds pertaining to such transactions.
12. To borrow money from the creditors and to create charge, pledge or mortgage
14. To do all other kind of formalities, acts, deeds and things necessary for the
effective management and administration of the property and real estate
business.
The EXECUTANT hereby declare that the acts, deeds, and things lawfully
done by his attorney shall be construed as acts, deeds and things deemed to have
Station: Guntur
Date :30-10-2020 EXECUTANT
Name:
Address:
2.
Name:
Address:
SCHEDULE
Guntur District, DRO, Guntur, Guntur Sub Registrar, within the limits of Guntur
Municipal corporation area, Guntur, in R.S.No.x.x.x landed property to a total
extent of Ac.25-00 cents and the property is being bounded by:
Station: Guntur
Date :30-10-2020 EXECUTANT
……………………………………………………………………………………………………………
SPECIAL
POWER
OF
ATTORNE
Y
………………………………………………………………………………………………………........
....
SPECIAL POWER OF ATTORNEY
AND WHEREAS the executant hereby authorizes and empowers his Attorney to
execute sale deed on his behalf and to present document for securing registration of
the said document and admit execution on my account for getting it registered in the
O/o. SRO, Chickmangalore, Karnataka State and further to accept the entire sale
consideration as per the terms and conditions of the sale deed. The Attorney is further
authorized and empowered to swear any affidavit or declaration that may be required
for the purpose of registration.
The Executant hereby declares that all the lawful acts and deeds done by his
Attorney shall be construed as done by him in person and therefore absolutely bind
him.
Station: Vijayawada
Date: 30-10-2020. Signature of Executant
Witness:
1)
Name:
Address:
2)
Name:
Address:
Station: Vijayawada
Date: 30-10-2020. Signature of the Executant
……………………………………………………………………………………………………………
TRUST
DEED
TRUST DEED FOR CHARITABLE OBJECTS
THIS TRUST DEED is created between Sh. s/o Sh. r/o hereinafter referred to as "the
author" of the one part
AND
Sh. , Sh. , and Sh. (hereinafter referred to as "the trustees" which expression
shall include the trustee or trustees for the time being) of the other part.
WHEREAS
1.The author being owner and being in complete possession of the immovable property having
no. , more specifically stated in the
Schedule I enclosed hereto and such other movable property as stated in the Schedule II
enclosed hereto which being his self acquired property and he has full disposing power on it
under Hindu law;
2.The author intends to gift said properties valuing at Rs. for such donation purposes as stated
herein after.
3.The trustees have consented to become owner of said properties/assets for effecting he
wishes of the author.
(i) to needy and poor people ,widows for enabling them earning their bread.
3.On life time of Author and capable of performance, he shall be a trustees and shall exercise,
conjointly with other trustees, the powers in applying/spending the trust fund for the purposes
as stated before. The majority of the trustees will decided matter relating trust.
4.The trustees shall ensure for spending purposes of the trust stated as before only by income by
and out of corpus of Trust Fund.
5. The Trustees shall keep proper accounts of all amounts received/disbursed due to purposes
of the trust stated as before. The trustees shall get accounts audited by a Chartered Accountant,
per the enactments of the Income Tax Act.
6.If any trustees dies or resigns or become incapable or otherwise, and vacancy falls due to that,
founder shall appoint other trustee in filling up the vacancy and if the founder is dead, the
remaining trustees shall make the appointment.
7.If, at any moment, net proceeds coming from the properties/assets of the trust exceeds the
expenditure incurred due to purposes of trust stated here in before, the Trustees shall be
empowered in investing such surplus funds in such securities/bonds as given in Section 20 of
the Indian Trust Act.
8.The trust fund, and the corpus and the income there from, shall not be used for any other
object excepting those for which trust has been made.
IN WITNESS WHERE OF, the parties hereunto have signed this deed Date
Place.
Witness
2. The Trustee
PRIVATE TRUST FOR ADMINISTRATION AND PRESERVING PROPERTY
This deed of trust is made by Mr. AA .S/o........................ R/o..................... (Hereinafter referred as the
settler) of the one part
And
And
(After it called the trustees which term shall include the Trustee/Trustees for the time being) of
the other part.
WHEREAS The said Mr. AA possesses and owns all that estate given and specified in Schedule
hereto which being his self-acquired property and bearing full disposing power on that under
Hindu law.
And whereas the said Mr. AA has for some time past not keeping good health and can not take
care his affairs and administrator the said estates living all hopes of absolute recovery.
And whereas his only son Mr. EE having long been suffering from epileptic fits is now almost
unsound mind and weak intellect wholly unable to administer household and property affairs.
And whereas for considerations and reasons as stated above and for due administration
protection and preserving his property the said Mr. AA wants to create a trust relating his
aforesaid estate in the way hereinafter appearing.
And whereas total value of above stated property being estimated at Rs................ as given in
Schedule hereto.
1. This said Mr. AA per his desire and wish as aforesaid do hereby transfer convey and grant, all
that estate stated in the Schedule hereto (hereinafter referred to as the trust property,) unto and
to the use of the trustees to hold and have the same in trust for the said Mr. AA and after he
expire trust hereinafter declared relating the same with and subject to such powers/restrictions
as are hereinafter stated.
2.The trustees shall by themselves or through a representative or representatives employed by
them manage and administer the trust property in such a manner as might be most beneficial in
the interest of trust and shall realise the rent, dividend, interest and other income coming from
the trust property and said Mr. AA shall make such formal endorsements and execute such
document/documents and do such thing as may be lawfully compulsory enabling the trustees to
get such income: provided that during the life time of Mr. AA or his wife with fully possessing of
his senses, the trustees shall be not empowered to vend, mortgage or otherwise transfer any
part of his residential house excepting with his written agreement if he is living and able to give
consent or with the agreement of his wife if he is expired or can not give his consent.
3.During life time of Mr. AA, the trustees shall spend income of trust property in such a way as
the said A may instruct and if he can not give any instructions the said income shall be spent for
maintaining said A, his wife, his son, his son's wife and other members of his family as may for
time being be in existence/dependent on him and on all religious, social and customary needs of
the family.
4.After said Mr. AA expires the income from trust property shall be spent in maintaining his
wife, his son, the said Mr. EE the said Mr. EE's wife and such member/members of his family as
may be in existence and on all such customary, social and religious needs of the family as
aforesaid.
5.If at any moment the trustees finding the income of trust property being insufficient for
objects of trust as hereinbefore stated, they shall be free in raising money by selling such stocks,
shares or securities stated in said schedule, as they may think fit, provided excepting of sudden,
urgent and unavoidable necessity, they shall not raise more than rupees ten thousand in one
year by disposing such stocks, securities or shares.
6.If due to expiry or other reason the office of a trustee falls vacant, and the said Mr. AA is living
with proper senses and after he expire or if he is not in proper sense the remaining trustees
shall select a new trustee or trustees if they so consent conjointly and if they can not consent on
the selection a new trustee or do not select one by a reasonable time, the court may select a new
trustee according to law for the time being in force in this behalf and, in such selection, the
trustees or the court shall honour the wishes, if any, of the said Mr. AA's wife and the wife of the
said Mr. EE stated in this behalf. Pending selection of a new trustee, the remaining trustee shall
continue to manage the trust.
7.On expiry on both said Mr. AA and his son, the said MR. EE, this trust shall end. The trust
property or such part of it as may be in subsistence shall at once confer on the successors and
legal representatives of the said MR. EE.
8.The said Mr. AA hereby expressly retains to himself the power to alter or revoke at any
moment on his pleasure the trust here by formed. Such alteration or revocation will not affect
any act already done by the trustees in good faith in due execution of the trust.
The Schedule
Author