DEED OF GIFT OF IMMOVABLE PROPERTY BY PARENTS IN FAVOUR OF TWO DAUGHTERS IN EQUAL UNDIVIDED SHARES

DEED OF GIFT OF IMMOVABLE PROPERTY BY PARENTS IN FAVOUR OF TWO DAUGHTERS IN EQUAL UNDIVIDED SHARES

THIS DEED OF GIFT made the ________ day of __________

BETWEEN

_________________________________________________ (insert the name of father and mother, address, etc.) (hereinafter called the parents) of the ONE PART

AND

_______________________________________________ (insert the name of first daughter, address, etc.) and (insert the name of second daughter, address, etc.) (hereinafter called the daughters) of the OTHER PART.

WHEREAS :

By a conveyance dated the _________ day of _____ 20____ and made between (parties) the property described in the Schedule hereunder written and hereinafter referred to as “the said property” was purchased out of the joint funds of the parents and is held in their joint names.

The parents are desirous of conveying the said property by way of gift to the daughters in manner hereinafter appearing.

NOW THIS DEED WITNESSETH as follows:

In consideration of their natural love and affection for the daughters the parents hereby convey unto the daughters all that (parcels) more fully described in the Schedule hereunder written and hereinafter referred to as “the said property” TO HOLD the same unto the daughters as beneficial tenants-in-common in equal shares.

The daughters shall have power to mortgage charge lease or otherwise dispose of all or any part of the said property with all the powers in that behalf of an absolute owner.

The daughters do hereby accept the said gift which is valued at Rs. _______ for the purpose of stamp duty.

THE SCHEDULE ABOVE REFERRED TO:

(Description of the property)

IN WITNESS etc.

[Signatures of all parties]