GIFT WITH A CONDITION FOR REVOCATION
THIS DEED OF GIFT is made on………………….day of ………between Mr………..son of…………….r/o……………(hereinafter called as Donor) and Donee on this …………………….day of………….in the city of…………………..
AND WHEREAS the donor is anxious to benefit the donee in case the donor does not return to the city of…………and under these circumstance the
donor is making a gift of his properties with a reconveyance clause.
AND WHEREAS the donor is willing to gift away his properties, more specifically detailed in the schedule hereto, valuing, at present at Rs………
AND WHEREAS the aforesaid donee undertakes to reconvey the peaceful possession and title of the property described hereinafter upon donor’s return and on his demand, and the donee also promises no to alienate encumber the aforesaid properties during the lifetime of the donor.
THIS DEED WITNESSES AS FOLLOWS
1. That the donor does, hereby, out of his free will and without force, compulsion or undue influence, transfers by way of gift his entire properties, described in the schedule hereto, to the said donee. To have and hold the same as beneficial owner for himself and his heirs and successors subject to the only conditions reconvening the properties to the donor at this return and on his demand without any objection and at his expenses.
2. That the donee accepts the gift and takes the physical possession of the gifted properties with the conditions of reconveyance and non-alienation of the property during the lifetime of the donor.
IN WITNESS WHEREOF both the Donor and the Donee have signed this gift-deed on the day, month and year hereinbefore stated .
Sd/- Donor……………..
Sd/- Donee……………..
Witnesses :
1. …………….
2. …………….
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