DEED OF GIFT OF UNDIVIDED SHARE OR INTEREST IN THE IMMOVABLE PROPERTY BY ONE CO-OWNER TO THE OTHER CO-OWNER
THIS DEED OF GIFT made the ________ day of __________
BETWEEN
_________________________________________________ (insert the name of Donor, address, etc.) (hereinafter called the assignor) of the ONE PART
AND
_______________________________________________ (insert the name of Donee, address, etc.) (hereinafter called the Donee) of the OTHER PART.
WHEREAS:
The donor and the donee are seized of the property described in the schedule here under written and hereinafter referred to as “the said property” free from encumbrances upon trust to sell the same and stand possessed of the net proceeds of sale and of the net rents and profits until sale upon trust for themselves in equal shares as beneficial tenants in common [as declared in a conveyance dated the ___________ day of _______ and made between [vendor] of the one part and the donor and the donee of the other part].
The donor is desirous of giving his undivided share and interest as co- owner in the said property and the proceeds of sale thereof to the donee.
NOW THIS DEED WITNESSETH as follows :
In consideration of his natural love and affection for the donee the donor in respect of his said share and interest hereby assigns and the donor and the donee [as trustees] in respect of the said estate hereby convey unto the donee all that [parcels] more fully described in the schedule hereto TO HOLD unto the donee discharged from such trusts for sale as aforesaid, absolutely and forever.
The donee hereby accepts the said gift made hereunder by the Donor.
THE SCHEDULE ABOVE REFERRED TO:
(Description of the gifted property)
IN WITNESS WHEREOF etc.
[Signatures of both the parties]