Surrender of Lease
THIS DEED OF SURRENDER made at ___________ this ________ day of _________ 200_____ BETWEEN A B C of __________, Indian Inhabitant, hereinafter called “The Lesser” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to include his heirs, executors, administrators and assigns) of the One Part; AND X Y Z also of _________, Indian Inhabitant, hereinafter called “The Lessee” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors, and administrators) of the Other Part;
W H E R E A S:-
(a) The Lesser is seized and possessed of or otherwise well and sufficiently entitled to the larger piece of land consisting of various plots situate at ________________ and which is more particularly described in the First Schedule hereunder written and is hereinafter referred to as “the said larger property” .
(b) The Lesser has by a Deed of Lease dated ____________ demised to the Lessee a plot No._________ admeasuring __________ sq.mts. forming the part of the said property described in the First Schedule together with the right to construct buildings for the period and at the rent and upon the terms and conditions recorded herein. The said Plot No._______ is more particularly described in the Second Schedule hereunder written and is hereinafter referred to as “the said plot”.
(c) The Lesser is desirous of developing the said larger property more particularly described in the First Schedule hereunder written including the said plot described in the Second Schedule hereunder written.
(d) Pursuant to the request of the Lesser, the Lessee has agreed to surrender his lease-hold rights in respect of the said plot to the Lesser on the terms and conditions hereinafter stated.
NOW THIS DEED WITNESSETH AS FOLLOWS:-
1. The Lessee hereby surrenders his leasehold rights, title and interest in the said Plot bearing No.______ admeasuring _________sq. mts. and which is more particularly described in the Second Schedule hereunder written to the Lesser. In consideration of the surrender of the said leasehold rights as aforestated, the Lesser has on or before execution hereof paid a sum of Rs._____________/- (Rupees ______________________ only) to the Lessee in full and final consideration (the payment and receipt whereof the Lessee doth hereby admit, confirm and acknowledge).
2. The Lessee has upon execution hereof handed over quiet, vacant and peaceful possession of the said Plot to the Lesser. Henceforth, the Lessee shall has no right, title, interest and/or claim of whatsoever nature in the said Plot and the Lesser shall be fully entitled to deal with the same in the manner he desires without any objection of whatsoever nature from the Lessee.
3. The Lessee has represented and assured the Lesser that he has not created any kind of third party rights in respect of the said Plot. The Lesser further states that he is in no manner directly and/or indirectly prevented from entering into this Deed and/or surrendering the leasehold rights of the said plot to the Lesser.
4. It is further agreed and recorded as under:-
(a) That the term of _________ years of lease granted under the said Deed of Lease dated _________ in respect of the said Plot stands comes to an end and has merged with the other rights of the Lesser as owner; and
(b) That the Lessee’s interest in the said plot has reverted back to the Lesser.
5. The stamp duty and registration charges, if any, in respect of the present instrument shall be borne and paid by the Lesser.
IN WITNESS WHEREOF the parties have hereunto set and subscribed their respective hands, the day and year first hereinabove written.
THE FIRST SCHEDULE ABOVE REFERRED TO:
(description of the said larger property)
THE SECOND SCHEDULE ABVOE REFERRED TO:
(description of the said plot)
SIGNED AND DELIVERED by the )
Within named ABC, the Lesser, )
Above named, in the presence of …… )
1.
2.
SIGNED AND DELIVERED by the )
Within named XYZ, the Lessee, )
Above named, in the presence of …… )
1.
2.