11. Partition or Settlement.?If the deed shows that the parties have
shares as per their respective entitlement as full owner, the document is
a partition deed and not a settlement deed?see Ravikirthi v Kagathpala
AIR 2005 Kant 194.
12. Conditional settlement if confers title to settlee.?A conditional
transfer or a settlement accompanied by conditions is not unkown to the
law of real property. It is permissible in law to annex or encumber any grant
or alienation with condition or limitation which will operate and the court
will give effect to it unless there is some provision of law which annuls or
invalidates such conditions, restraint or limitation?Subhegowda v
Thimmegowda AIR 2004 SC 2428; see also Philip John v Commr. of I.T.
AIR 1964 SC 587; Raj Bajrang v Thakurain Bakhtraj AIR 1953 SC 7.
13. Document whether Will or Settlement.?A document was de-
scribed as ?gift settlement deed?, an uncommon nomenclature indeed. The
executor had reserved her right over rental income during her life but in all
other respects she had transferred her interest. It was no where stated in
the said instrument that the bequeath will take effect after her death. It is
?settlement deed? and not a ?will??Shanmugam v N.R. Mani AIR 2004 Mad
178.
14. Stamp duty.?A deed of settlement is chargeable to stamp duty
under Article 58, Schedule I of the Indian Stamp Act, 1899. The duty is the
same as on a Bond (under Article 15) for a sum equal to the amount or value
of the property settled as set forth in the deed. However, reference to be
made to the respective State Amendments to the Schedule of the Stamp
Duty applicable to a particular case.
15. Registration.?According to sec. 17(1)(b) of the Indian Registration
Act, 1908, a non-testamentary instrument which purports or operates to
create, declare, assign, limit or extinguish, whether in present or in future,
any right, title or interest, whether vested or contingent, of the value of one
hundred rupees and upwards, to or in immovable property will be compul-
sorily registrable. Therefore, a deed of settlement will be compulsorily
registrable, if the value of the immovable property settled is Rs. 100 or
upwards.
FORMS
1
Husband and wife as Settlors?Income to Settlors for their
lives with remainder to descendants
This trust agreement is entered into between?????.. and????.,
Ch. 55] SETTLEMENT?FORMS 377378 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
husband and wife, referred to as Settlors, and?????.., referred to as
Trustee.
SECTION ONE
Transfer into Trust
Settlor have transferred and delivered to trustee, all of the property
described in the attached Schedule A which is made part of this trust
agreement. The receipt of such property is hereby acknowledged by trustee.
The property, together with any other property that may later become
subject to this trust, shall constitute the trust estate, and shall be held,
administered, and distributed by trustee as herein provided.
SECTION TWO
Additions to Trust
Any person may, from time to time, with the consent of trustee, by
conveyance, assignment, transfer, or will, add property of any kind to the
trust estate, or any part of it, which shall thereupon be subject to all the terms
and provisions of this trust.
SECTION THREE
Revocation and Amendment
While living and competent, Settlors, acting jointly, may
at any time or
times, by written notice filed with trustee, (1) change any beneficiary; (2)
amend any provision of this agreement to such extent as may be acceptable
to trust; (3) revoke this trust in whole or in part; or (4) withdraw all or any
part of the trust estate.
SECTION FOUR
Power to direct trustee
While living and competent, Settlors, acting jointly, may at any time or
times, direct trustee in writing to invest the trust estate in specific securities,
properties, or investments; to retain as part of the trust estate any securities,
properties, or investments at any time held hereunder, for such length of
time as such directions may provide; or to sell, encumber, lease, manage,
control, or dispose of any property of the trust estate. Trustee shall not be
liable for any loss sustained or incurred by reason of?????. [his or her
or its] compliance with any such written directions of Settlors.
SECTION FIVE
Payment of Expenses
Trustee shall pay or reserve sufficient funds to pay all expenses of
management and administration of the trust estate, including the compen-
sation of trustee, all or any part of which may, in the discretion of trustee,
be charged either to income or principal of the trust estate.SECTION SIX
Net Income
The income of the trust remaining after the payment by trustee of
expenses authorized in Section Five and charged to income shall and be
and is referred to as net income.
SECTION SEVEN
Income to Settlors
The net income shall be distributed to or for the use and benefit of
Settlors, and??????., while both are alive, in??????.[monthly
or quarterly or as the case may be] instalments.
SECTION EIGHT
Funeral Expenses
On the death of either Settlors, trustee shall pay the expenses of Settlor?s
illness and funeral, from either income or principal of the trust property at
the discretion of the trustee, unless other adequate provisions have been
made therefor.
SECTION NINE
Income to Survivor
On the death of either Settlor, the net income shall be distributed to or
for the use and benefit of the surviving Settlor, in convenient instalments,
not less frequently than quarterly, during his or her lifetime.
SECTION TEN
Apportionment of Trust
On the death of surviving Settlor, trustee shall apportion the trust estate
remaining, after paying or reserving for all amounts then payable as
previously provided, without being required to make a physical segregation
thereof, into equal full shares and partial shares as follows:
(a) One full share for each of the then living children of Settlors.
(b) One full share for the then living lawful descendants of each
deceased child of Settlors, to be apportioned in partial shares
among such descendants on the principle of representation.
Each such full or partial share shall constitute, and shall be held,
administered, and distributed as, a separate trust.
SECTION ELEVEN
Distribution of Income
Subject to the provisions contained in this agreement, relative to the
termination of this trust and the provisions for distribution, the net income
shall be distributed in convenient instalments, not less frequently than
quarterly, as follows:
Ch. 55] SETTLEMENT?FORMS 379380 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
(1) The net income from each trust apportioned for the benefit of a
living child shall be distributed to or for the use and benefit of such
child.
(2) The net income from each trust apportioned for the benefit of a
living lawful descendant of a deceased child shall be distributed
to or for the use and benefit of such descendant.
(3) On the death of each child or lawful descendant of a deceased child
to whom a trust is then held, such trust, to the extent not appointed
as provided below, shall be apportioned in partial shares among
his or her living lawful descendants on the principle of represen-
tation which partial shares shall constitute, and shall be held,
administered, and distributed as, separate trusts and while so held,
the net income from each such descendant?s trust shall be
distributed to or for the use and benefit of such descendant.
(4) On the death of each child or lawful descendant of a deceased child
for whom a trust is then held, who leaves no living lawful
descendants, such trust, to the extent not appointed as provided
below, shall go to augment the other trusts then held and those
previously distributed in whole or in part, on the principle of
representation of his or her nearest ancestor, not more remote than
Settlors, then having living lawful descendants; except that no such
trust shall go to augment the trust of any child or descendant
previously deceased who then has no living lawful descendants.
SECTION TWELVE
Withdrawal of Principal
The descendants of the Settlors shall have the right to withdraw principal
as follows:
(1) Whenever any male descendant of Settlors has attained the age
of?????. years, he may withdraw the entire principal of the
trust then being held for him.
(2) Whenever any female descendant of Settlors has attained the age
of????.. years, she may withdraw the entire principal of the
trust then being held for her.
(3) All such withdrawals shall be made by written request filed with
trustee. Trustee shall continue to administer the principal, subject
to withdrawal but not so withdrawn, under the terms and conditions
of this trust, and shall distribute the net income from such principal
to or for the use and benefit of the beneficiary for whom it is then
being held.
The right to make such withdrawals shall be a continu-
ing right until the termination of the trust, or the death of the
beneficiary holding such right, whichever occurs first, and such
right shall include the power to appoint the principal subject to
withdrawal, in the manner specified below.SECTION THIRTEEN
Power of Appointment
On the death of a living lawful descendant for whom a trust is then being
held, trustee shall distribute from such trust the amount appointed, not in
excess of the aggregate amounts previously subject to withdrawal but not
so withdrawn as of the date of death of such descendant, to or in trust for
the use and benefit of such person or persons among Settlors? lawful
descendants and their spouses, on such conditions and estates, with such
powers in such manner and at such time to times as he or she appoints
and directs by his or her last will admitted to probate by a court of competent
jurisdiction, specially referring to this power of appointment. To the extent
that this power of appointment is not exercised, then such trust shall be held
or distributed as previously provided.
Unless within?????. [period of time] after the death of the holder
of such power trustee has actual notice of the existence of a will or for
probate proceedings, it shall be deemed for all purposes hereunder that
such power of appointment was not exercised (but the provisions of this
Paragraph shall not affect any right which an appointee, or beneficiary in
default of appointment, may have against any distributee).
SECTION FOURTEEN
Termination and Distribution
Unless sooner terminated in the manner previously provided, each trust
shall cease and terminate on the death of the survivor of the following
named persons, all of whom are living and interested herein??????,
Settlors?????? [name],???????. [son or daughter or grand-
son or granddaughter] of Settlors, born??????.. 2024, ??????
[name], ????????.[son or daughter or grandson or granddaughter]
of Settlors, born?????2024.
On such termination the entire trust estate, including principal and any
accrued or undistributed net income thereon, shall be distributed to the
persons for whom the estate is then being held in trust, in proportion to the
trusts then being held for such persons and, if there are no persons
surviving, then one-half of the trust estate shall be distributed to the heirs
of the husband-Settlors,…………?? [name], and one-half shall be distrib-
uted to the heirs of the wife-Settlors?????. [name], both classes of
heirs to be then determined according to the laws of the State of??????
relating to succession of property in force at the date of such termination.
SECTION FIFTEEN
Powers of Trustee
In addition to all other powers and discretions granted to or vested in
Ch. 55] SETTLEMENT?FORMS 381382 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
trustee by law or by this instrument, trustee shall have the following powers
and discretions:
A. To do all such acts, take all such proceedings and exercise all such
rights and privileges in the management of the trust estate as if
the absolute owner thereof, including, without limiting the gener-
ality of the terms, the following?????? :
B. To hold, manage, operate, control, repair, preserve, improve,
partition, divide, subdivide, sell (at public or private sale and for
cash or on credit),
convey, exchange, convert, grant options on,
or otherwise deal with trust property;
C. To lease for terms either within or beyond duration of this trust
including oil, gas, and other mineral leases, on such terms as
trustee may deem proper; and to enter into pooling, utilization,
community and other types of
agreements relating to the develop-
ment, operation, and conservation of mineral properties;
D. To loan, re-loan, invest, and re-invest the trust estate or any part
of it;
E. To vote stock, give proxies, pay calls for assessments, sell or
exercise stock subscriptions or conversion rights, participate in
foreclosures, re-organizations, consolidations, mergers, liquida-
tions, pooling agreements and voting trusts, assent to corporate
sales and other acts and, in connection therewith, to deposit
securities with and transfer title to any protective or other commit-
tee under such terms as trustee may deem advisable;
F . To hold securities or other property in trustee?s own name or in the
name of………………. [his or her or its] nominee, without disclosing
any fiduciary relation;
G. To procure and carry at the expense of the trust estate insurance
of any kind and in such form and amount as trustee deems
advisable to protect trustee and the trust estate against any
hazard; and
H. To borrow money for any trust purpose, hypothecate the trust
estate or any part of it and replace, renew and extend any
encumbrance on it, on such terms, conditions, and security as may
be determined by trustee and to pay loans or other obligations of
the trust estate, as trustee in???????. [his or her or its]
discretion deems advisable.
I. Trustee in???????? [his or her or its] discretion is ex-
pressly authorized to hold and retain any securities, properties, or
other investments for such length of time as trustee deems
advisable?????? [where corporation is trustee, add includ-
ing shares of the trustee or any affiliated or related corporation].J. In investing and re-investing money and property of this trust and
in acquiring, retaining, selling, exchanging and managing invest-
ments, trustee shall exercise care and judgment under the circum-
stances then prevailing, which persons of ordinary prudence and
reasonable discretion exercise in the management of their own
affairs, considering the probable income as well as the probable
safety of their capital. Within the limitations of the foregoing
standard, trustee is authorized to acquire every kind of property,
real, personal, or mixed, and every kind of investment, specifically
including but not by way of limitation??? [where corporation is
trustee, add: participation in any common trust funds administered
by trustee], corporate obligations of every kind and stocks, pre-
ferred or common, and interests in investment trusts and mutual
funds, which persons of prudence, discretion, and intelligence
acquire for their own account.
SECTION SIXTEEN
Determination of principal and income
Unless otherwise specifically provided in this instrument, trustee
in????????.. [his or her or its] discretion may determine what is
principal or income and what shall be charged or credited to either,
and???????.. [his or her or its] judgment shall bind everyone
beneficially interested hereunder.
SECTION SEVENTEEN
Invasion of principal
If trustee deems the net income payable under this agreement not
sufficient to provide for the reasonable care, support, maintenance,
education, and recreation of Settlors, or any other beneficiary who is at the
time receiving or entitled to receive income hereunder, taking into consid-
eration any other income and financial resources of Settlors or such other
beneficiary, as far as is known to trustee, trustee may as often as??????
[he or she or it] deems necessary, pay to or apply for the use and benefit
of Settlors or such other beneficiary such additional part, up to and including
the whole thereof, of the principal of the trust estate or, if the trust estate
has been apportioned into shares, of the principal of the respective trust
of such beneficiary, all as trustee in???????[his or her or its] sole
and absolute discretion believes will be in the best interest and will tend
to promote the welfare of Settlors or such other beneficiary, including but
not limited to the specific power to disburse funds to or for the use and
benefit of Settlors or such other beneficiary for the purpose of acquiring a
home or an equity therein.
Ch. 55] SETTLEMENT?FORMS 383384 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
SECTION EIGHTEEN
Minor and Incompetent Beneficiaries
If any time or from time to time any beneficiary entitled to receive income
or principal hereunder shall be a minor, or in the absolute judgment of
trustee, mentally or physically incompetent (regardless of whether legally
so adjudicated), trustee may make any such payments, in??????.[his
or her or its] discretion, in one or more of the following ways:
A. Directly to such beneficiary,
B. To the natural guardian, or the legally appointed guardian or other
fiduciary of the person or estate of such beneficiary,
C. To any person or organization furnishing care, support, mainte-
nance, or education from such beneficiary, or
D. By making expenditures directly for the care, support, mainte-
nance, education, or recreation of such beneficiary. Trustee shall
not be required to see to the application of any funds so paid or
applied and the receipt of such payee shall be full discharge of
trustee. The decision of trustee as to direct payments or application
of funds shall be conclusive and binding upon all parties in interest.
SECTION NINETEEN
Compromise of Claims
Trustee may, at??????. [his or her or its] option, at any time, in
connection with?????.. [his or her or its] management of the trust
estate or the collection of any moneys due or payable to………………. [him
or her or it] as trustee hereunder, compromise or abandon any claims
existing in favour of or against the trust estate.
SECTION TWENTY
Division or Distribution in cash or in kind
On any division of the trust estate into separate shares or trusts and upon
any distribution, trustee may apportion and allocate the assets of the trust
estate in cash or in kind, or partly in cash and partly in kind, or in undivided
interests, in such manner as trustee in??????? [his or her or its]
discretion deems advisable. Trustee may sell such proper ty
as???????. [he or she or it] deems necessary to make any such
division or distribution. After any division of the trust estate, trustee may
make joint investment with funds from some or all of the several shares or
trusts.
SECTION TWENTY-ONE
Payment of Taxes
Taxes shall be paid and charged by trustee as follows:
A. Death Taxes. On the death of Settlors or any beneficiary, any estate,inheritance, succession, or other death taxes, duties, charges, or assess-
ments, if any, together with interest, penalties, costs, trustee?s compensa-
tion and attorneys? fees, which shall become due by reason of the trust
estate or any interest therein being includible for such tax purposes, may
be paid by trustee from the trust estate, unless other adequate provision
has been made therefor.
B. Gift Taxes. If at any time any gift tax becomes due from either
Settlors?? and??????.. [names], by reason of the trust estate or
any interest therein being includible for such tax purposes, such gift tax,
together with interest, penalties, costs, trustees? compensation and attor-
neys? fees, may be paid by trustee from the trust estate, unless other
adequate provision has been made therefor.
C. Other Taxes. Trustee shall have full power and authority to pay from
the trust estate any other taxes, charges, or assessments for which trustee,
the trust estate, or any interest therein becomes liable.
D. Method of Payment. Trustee may make any such payments directly
or to a personal representative or other fiduciary and trustee may rely upon
a written statement of such fiduciary as to the amount and propriety of such
taxes, interest, penalties, and other costs, and shall be under no duty to
see to the application of any funds so paid.
SECTION TWENTY-TWO
Termination in Trustee?s Discretion
If the value of the assets held in any trust under this agreement at any
time becomes less than?????. Rs???. such trust shall terminate.
If such trust, in the absolute discretion of trustee, becomes sufficiently small
in value that the administration of it is no longer economically desirable, the
cost of it is disproportionate to the value of the assets, or its continuation
is no longer in the best interest of the beneficiary or beneficiaries, trustee
may terminate such trust. On termination as herein provided, trustee shall
distribute the property of such trust to the person or persons, and in the
proportion, then entitled to receive the income therefor, in so far as specified
in such trust, otherwise in equal shares.
SECTION TWENTY-THREE
Exclusion of Powers of Trustee
Any person or persons appointed to act as trustee or successor trustee
under this instrument shall not have the following powers:??????[as
applicable, set forth powers given to trustee by appropriate statutes which
are intended to be excluded].
SECTION TWENTY-FOUR
Death of beneficiary: Accrued and Undistributed Income
On the death of any beneficiary for whom a trust is then held, any accrued
Ch. 55] SETTLEMENT?FORMS 385
G : CDD (Vol. 7) ? 25386 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
or undistributed net income thereon shall be held and accounted for, or
distributed, in the same manner as if it had been accrued or received after
the death of such beneficiary.
SECTION TWENTY-FIVE
Notice of Events
Unless trustee receives from some person interested in this trust, written
notice of any death, birth, marriage, or other event on which the right to
receive income or principal of the trust estate may depend, trustee shall
incur no liability for any disbursements or distributions made or omitted in
good faith.
SECTION TWENTY-SIX
Binding effect of Trustee?s Acts
Any instrument executed by trustee shall be binding upon all parties
hereto and upon all beneficiaries hereunder. No person paying money to
trustee need see to the application of the money so paid.
SECTION TWENTY-SEVEN
Definitions
The words ?child?, ?children?, ?descendants?, and ?lawful descendants?,
as used in this instrument, shall include children legally adopted by Settlors
or by any of their descendants and lawful descendants of such legally
adopted children.
The words ?incompetent? or ?incompetence?, as used in this instrument,
shall be deemed to include not only persons who have been so declared
by a court of competent jurisdiction, but also persons for whom a guardian
or other fiduciary of the person or estate or both shall have been appointed
by a court of competent jurisdiction.
SECTION TWENTY-EIGHT
Spendthrift Provision
(1) Except as otherwise expressly provided in this instrument, all income
or principal to be paid to any of the beneficiaries shall be paid by trustee
directly and only to the beneficiaries or to the personal representative of
any beneficiary, or, where authorized by any beneficiary, applied for his or
her benefit. Trustee shall not recognize any transfer, mortgage, pledge,
hypothecation, order, or assignment of any beneficiary by way of anticipa-
tion of income or principal. The income and principal of any trust hereunder
shall be exempt from the claims of creditors or other claimants, and from
orders, decrees, levies, attachments, garnishments, executions, and other
legal or equitable process or proceedings to the fullest extent permissible
by law.
(2) If any creditor or other claimant attempts by any means to subjectto the satisfaction of the claim of such creditor or claimant the interest of
any beneficiary entitled by the provisions hereof to receive income or
periodic payments from the principal or income, or both, then notwithstand-
ing any other provisions herein, the beneficiary, during such time thereafter
as the trustee, in??????. [his or her or its] absolute discretion, shall
deem the same advisable, shall not be entitled to receive payments from
the trust; provided, however, that during the time payments are so
suspended, trustee, in?????.. [his or her or its] absolute discretion,
may pay to or expend for the benefit of such beneficiary as much of the trust
net income, not to exceed the income to which such beneficiary would
otherwise be entilted, as trustee deems necessary for the support and
education of such beneficiary in accordance with the latter?s station in life.
(3) Trustee may, however, deposit in any bank designated in writing by
a beneficiary to his or her credit income or principal payable to such
beneficiary.
SECTION TWENTY-NINE
Resignation of Trustee
Trustee, or any successor, may resign at any time upon giving written
notice?????? [number] days before such resigation shall take effect,
to Settlors then living. After the death of both Settlors the notice is to be
given to all adult beneficiaries and to the guardians or other fiduciaries of
the estate of any minor or incompetent beneficiaries who may then be
receiving or entitled to receive income thereunder.
SECTION THIRTY
Successor Trustees
??????.[Where Settlors desire to name additional individual
successor trustees ahead of the final corporate trustee, add the following
paragraph, one for each named successor: On the resignation, removal,
incompetency, or death of??????..(original or next preceding) trustee,
???????.(name) shall become successor trustee on??????.
(his or her) written acceptance of the duties of trustee hereunder.]
On the resignation, removal, incompetency, or death of the?????
[original or next preceding] trustee, ???????..[name of corporate
trustee] shall become the successor trustee upon its written acceptance
of the duties of trustee hereunder.
On the resignation of the corporate trustee, those to whom notice of
resignation is to be given shall designate a successor trustee by written
notice to the resigning trustee within????? [number] days after receipt
of the notice of resignation. In the event a successor trustee shall not be
so designated, the resigning trustee shall have the right to appoint a
successor trustee or the resigning trustee or any beneficiary of this trust
may secure the appointment of a successor trustee by a court of competent
Ch. 55] SETTLEMENT?FORMS 387388 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
jurisdiction, at the expense of the trust estate. The resigning trustee shall
transfer and deliver to the successor trustee the then entire trust estate and
shall thereupon be discharged as trustee of this trust and shall have no
further powers, discretions, rights, obligations, or duties with reference to
the trust estate. All such powers, discretions, rights, obligations, and duties
of the resigning trustee shall inure to and be binding upon such successor
trustee.
SECTION THIRTY-ONE
Expenses and Compensation of Trustee
Trustee shall pay from income or principal of the trust estate or partly
from each, in??????. [his or her or its] discretion, all expenses
incurred in the administration of this trust and the protection of this trust
against legal attack, including counsel fees and a reasonable compensa-
tion for trustee?s own services as trustee, which compensation and
expenses constitute a first lien on the trust estate.
SECTION THIRTY-TWO
Bond
??????..[Where trustee is to serve with bond, use: Any persons
appointed to act as trustee or successor trustee under this trust instrument,
before entering on his or her duties of trusteeship, shall execute a bond
payable to the trust estate, with an authorized surety company as surety,
to secure the faithful performance of trustee?s duties hereunder. Such bond
shall be in an amount not less than the value of the trust estate and the
probable value of one year?s annual income from it. The cost of such bond
shall be borne by the trust, chargeable either to income or principal as
trustee in his or her discretion shall determine.]
??????[Where trustee is to serve without bond, use: Any person
or persons appointed to act as trustee or successor trustee under this trust
agreement shall not be required to give any bond.]
SECTION THIRTY-THREE
Acceptance; Governing Law; Severability
This trust has been accepted by trustee and will be administered in the
State of??????. Its validity, construction, and all rights thereunder
shall be governed by the laws of that State or the Central Acts. If any
provision of this trust agreement should be invalid or unenforceable, the
remaining portions of it shall continue to be fully effective.
IN WITNESS WHEREOF , this instrument has been executed at?????
[designate place of execution] the day and year first above written.
[Signature]
[Acknowledgements]2
Deed of Trust for the benefit of Settlors? children
Trust agreement and declaration made???.2024, by and between??.
and??????, husband and wife, of?????? [address],?????..
here referred to as the Settlors, and????..[names], the natural born
children of the Settlors, here referred to as the Trustees.
This trust agreement and declaration is made upon the following
conditions:
SECTION ONE
Property Transferred
Settlors are about to convey, or cause to be conveyed, to Trustees, the
following described property:
It is the intention of the Settlors to convey to the trust estate all of the
real property and the personal property above described, to have and to
hold all the same property (all of which property is sometimes referred to
in this instrument as the trust estate) in trust, however, for the use and
purposes and on the terms as set forth in this trust agreement.
SECTION TWO
Investment of Income
When the Trustees have taken title to the property, they shall take
possession of all of the interest estate and shall invest and re-invest the
income from the trust estate in the names of Trustees in?????.. [any
bonds or securities approved by any law in force in India], with power to
vary the investment or investments of the trust estate from time to time for
any other or others of the character above specified in the discretion of
Trustees.
SECTION THREE
Power of Trustees to enter into contracts
Trustee shall have full power and authority to enter into agreements, from
time to time, as they may deem necessary or expedient, with reference to
the organization of corporations, and the stock, bonds or other obligations
which form a part of this trust estate.
SECTION FOUR
Management of Trust Estate
Trustees are authorized and empowered to manage, care for, improve,
protect, control, deal with, sell and otherwise dispose of the trust estate or
any part of it, in their discretion, in any and every way in which any
responsible and prudent owner could manage, care for, improve, protect,
control, deal with and otherwise dispose of the same.
Ch. 55] SETTLEMENT?FORMS 389390 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
SECTION FIVE
Power to Borrow
Trustees are authorized, from time to time, to borrow money and pledge
as security for the payment of this money, all or any part of the property,
real or personal, at any time forming a part of the trust estate when
necessary to be used for the benefit of the trust estate.
SECTION SIX
Power to Lease and the like
Full power and authority is granted to the Trustees to improve, manage
and protect the trust estate or any part of it, to dedicate streets and highways
when necessary, to contract to sell, to grant options to purchase, to sell on
any terms as the best judgment of Trustees dictate, to convey, to mortgage,
pledge or otherwise encumber the trust estate or any part of it, and to lease
the trust estate or any part of it from time to time on any terms and for any
period or periods of time not exceeding, in the case of any single demise,
the term of????.. [ten years], and to renew or extend leases on any
terms and for any period or periods, of time not exceeding?????? [ten
years].
SECTION SEVEN
Costs and Expenses of Estate
Out of the income derived by Trustees from the property at any time
comprising the trust estate, Trustees shall first pay all the necessary costs
and expenses of this trust, including outlays necessary for the protection,
management and upkeep of the trust estate, repairs, alterations and
improvements, taxes (general, special, and income), outlays necessary for
insurance, care and maintenance of the trust estate and for keeping the
property of the trust estate in good condition, and the reasonable compen-
sation of Trustees.
The balance of the income derived from the trust estate shall be paid
to Settlors?????????? [and to?????..] in the following
manner:
SECTION EIGHT
Waiver of Right to Revoke Trust Agreement
TRUST AGREEMENT Settlors waive the right to revoke this trust agree-
ment in whole or in part.
SECTION NINE
Disposition on Death of Settlors
On the death of??????.. and????.., Settlors, the trust created
shall terminate and the Trustees, after deducting their expenses andreasonable compensation, shall transfer and pay over all of the personal
property in the trust estate with its accumulations, and all undistributed
income, to?????? [names], in equal parts.
For the purpose of making any distribution of the personal property of
the trust estate, the Trustees are authorized to value and appraise or have
valued or appraised any or all of the personal property of the trust estate
and to distribute the same in kind or in cash, or part in kind and part in cash,
as they may deem advisable after any such valuation or appraisal.
SECTION TEN
Conveyance on Death of Settlors
On the death of the Settlors, should the real estate constituting this trust
estate remain intact and no portion of the same have been sold or
mortgaged by the Trustees, the Trustees shall transfer, convey and warrant
by proper deeds of conveyance the following described property to the
following described persons, as follows:???????. .
SECTION ELEVEN
Sale or Mortgage of Real Estate
Should the Trustees sell and convey or mortgage any part or portion of
the real estate which constitutes a part of this trust estate, then, in that event,
at the termination of this trust, the Trustees are directed to convey and
warrant by proper deed or deeds of conveyance the remaining part or
portion of the real estate not previously sold and any real estate not
previously mortgaged to????????[names], in equal shares as
tenants in common.
SECTION TWELVE
Death of Trustees before termination; failure or refusal to Act
Should one or more of the Trustees die before the termination of this trust
agreement, the survivor or survivors shall act as sole Trustee or Trustees.
Should one or more of the Trustees at any time refuse to act as a Trustee,
the Trustee or Trustees refusing to act shall submit their written resignation(s)
to the remaining Trustee or Trustees, and the remaining Trustee or Trustees
shall act as the sole Trustee or Trustees of the trust estate. Should the
Trustee or Trustees refusing to act fail or refuse to submit their written
resignation(s) within???. [thirty (30) days] after receipt of a written
request for such submission by the remaining Trustee or Trustees, the
remaining Trustee or Trustees shall be empowered to act as the sole Trustee
or Trustees of the trust estate in the absence of a written resignation or
resignations with full power and authority to act as though such written
resignation(s) had been submitted.
IN WITNESS WHEREOF , the Settlors and Trustees have executed this
Ch. 55] SETTLEMENT?FORMS 391392 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
agreement and declaration at????? [designate place of execution] on
the date indicated below.
[Signatures and date(s) of signing]
[Acknowledgements]
3
Deed of Settlement creating private family trusts
and also debutter trusts
THIS INDENTURE made etc. BETWEEN S.T. etc. (Settlor) of the ONE PART
AND A.B., C.D. and E.F . etc. (Trustees) of the OTHER PART.
WHEREAS the Settlor is seized and possessed of the several heredita-
ments respectively mentioned and described in the first and Second
schedules hereunder written and the inheritance thereof in fee simple free
from encumbrances.
AND WHEREAS the Settlor bears natural love and affection for the
members of his family and is desirous of settling for their benefit the several
hereditaments comprised in the first schedule hereunder written.
AND WHEREAS the Settlor has installed and located a Deity called………
at……….. being the first of the hereditaments comprised in the second
schedule hereunder written (hereinafter called the said ?THAKURBATI?) and
is desirous of absolutely and irrevocably dedicating to and settling for the
benefit of the said Deity the several hereditaments comprised in the second
schedule hereunder written.
AND WHEREAS for the purpose of the stamp duty to be paid hereon the
total value of the several hereditaments respectively comprised in the first
and second schedules hereunder written is hereby assessed at Rs……..
NOW THIS INDENTURE WITNESSETH that for effectuating his said desires
and for divers causes and considerations him thereunto moving he the
Settlor hereby absolutely and for ever dedicate UNTO AND TO THE USE of
the Said Deity the said ?THAKURBATI? and all other the hereditaments
comprised in the second schedule hereunder written.
AND THIS INDENTURE FURTHER WITNESSETH that in consideration of the
premises he the Settlor hereby grants, conveys and transfers unto the
Trustees ALL THOSE the several hereditaments respectively comprised in
the first and second schedules hreunder written TOGETHER WITH (insert
general words, estate and deed clauses) TO HAVE AND TO HOLD the same
unto the Trustees as to the several hereditaments comprised in the first
schedule hereunder written UPON THE TRUSTS AND USES specified in the
third schedule hereunder written and as to the several hereditaments
comprised in the second schedule hereunder written UPON THE TRUSTS ANDUSES specified in the fourth schedule hereunder written and subejct in
respect of each and every of the said several hereditaments to the powers,
provisions and limitations contained in the fifth schedule hereunder written.
AND IT IS HEREBY DECLARED that the several persons named in the fifth
schedule hereunder written as Trustees of these presents and all new
trustees to be appointed and nominated hereafter shall be and act as such
Trustees for and during the period therein mentioned and shall perform,
execute and discharge the several trusts and uses respectively specified
in the third and fourth schedules hereunder written according to true intent
and meaning thereof.
AND the said A.B., C.D. and E.F . hereby consent to be and to act as such
Trustees as aforesaid.
THE FIRST SCHEDULE ABOVE REFERRED TO :
(Describe secular properties)
THE SECOND SCHEDULE ABOVE REFERRED TO:
(Describe debutter properties)
THE THIRD SCHEDULE ABOVE REFERRED TO:
(Specify secular trusts with ultimate grant of the remainder)
THE FOURTH SCHEDULE ABOVE REFERRED TO:
(Specify debutter trusts and that trustees are to hold the
debutter properties in perpetual trust)
THE FIFTH SCHEDULE ABOVE REFERRED TO:
(The scheme is: first, to name and then to empower the trustees to act during
settlor?s life time and some 20 or 30 years thereafter; second, to enumerate their
duties and powers third, to provide how, by majority or unanimously, they
are to act; and fourth, to vest them with power to appoint new
trustees and so on)
IN WITNESS etc.
4
Deed of Settlement for the benefit of the named beneficiary
during her life and after her death the remainder of the
Trust Property to vest in her male descendants or
other descendants
THIS DEED OF SETTLEMENT is made the…………. day of…….. 20….
BETWEEN Sri……………. residing at……….. Kolkata hereinafter referred to as
the ?SETTLOR? (which expression shall unless excluded by or repugnant
Ch. 55] SETTLEMENT?FORMS 393394 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
to the subject or context be deemed to mean and incldue his heirs,
successors, executors administrators and legal representatives) of the ONE
PART AND (1)……………….. (2)………………… (3)………………..hereinafter col-
lectively referred to as the ?TRUSTEES? (which expression shall unless
excluded by or repugnant to the context be deemed to include the Trustee
or Trustees for the time being of these presents and their successors-in-
office) of the OTHER PART.
WHEREAS :
1. The Settlor desires to settle the sum hereinafter mentioned for the
objects and purposes hereinafter expressed.
2. The Trustees have at the request of the Settlor agreed to act as
Trustees.
NOW THIS DEED WITNESSETH as follows:
1. In order to effectuate the said desire the Settlor doth hereby make over
and assign to the Trustees a sum of Rs………. (Rupees…………………..) only
to have and to hold the same and the investments thereof for the time being
representing the same together with all additions and accretions thereto
and all accumulated income thereof and all other properties that may be
acquired out of the same or are subject to the Trust hereinafter referred to
as the ?TRUST PROPERTIES? upon Trust for the objects and purposes
hreinafter expressed with the powers and on the terms and conditions
hereinafter declared concerning the same.
2. The name of the Trust shall be ?………………. ?
3. The Trustees shall hold the Trust Properties and at their discretion
apply the whole or part of the income and/or whole or part of the corpus
of the Trust properties for absolute benefit, maintenance, medical relief
of………….. during her lifetime and upon her death the Trustees shall divide
and handover the Trust properties or such much thereof as may then remain
in their hands amongst and transfer to the then living male decendants in
the male line of the said……….. absolutely in equal proportion or in such
other proportion as may be mutually agreed by them amongst themselves
and in the event of none of the male descendants of the said……………. living
at the aforesaid time the Trustees shall divide and handover the trust
properties amongst and transfer to the other living descendants of the
said…………… absolutely in such proportion or shares as the Trustees may
their discretion decide.
4. The Trustees shall be at liberty to hold any business undertaking upon
trust as aforesaid and to administer and manage the same and furnish
security, maintain office and establishment and do and take all such steps
and deeds all such acts and exercise all such powers as may be necessary
for acquiring, holding and managing any business undertaking upon trust
as aforesaid.5. The general management and control of the Trust for the purpose of
managing the trust affairs and properties which includes any business
undertaking vested in Trustees and carrying out the objects of the trust
aforesaid shall be vested in the trustees and for this purpose prejudice to
all general powers mentioned above, the Trustees shall have powers to
enter into contracts and borrow money as may be considered necessary
by the Trustees.
6. The Trustees will have the folllowing powers:
(a) To invest the trust properties or the income thereof either in the
purchase or mortgage of moveble or immovable properties or in
shares debentures stocks or other securities whether authorised
by the Indian Trusts Act or any other Act or law for the time being
in force regarding the powers of the trustees to invest trust funds
or not or in deposit with or loan to any company, bank, person or
firm including any firm or company in which the trustees or any of
them may be directly or indirectly interested on such terms and
conditions as the trustees may in their absolute discretion think fit
and proper;
(b) To sell alter vary or transpose or otherwise dispose of or alienate
the trust properties or any investment representing the same and
to re-invest the same in any manner as the trustees may in their
discretion think fit;
(c) To pay any account in the name of the trust with any bank, to
operate such account and to give necessary instructions to the
bank;
(d) To pay all charges, impositions and other outgoings payable in
respect of the trust properties or any property comprised in the trust
and also to pay all costs of and incidental to the administration and
management of the trust properties for the time being;
(e) To let out or demise any immovable proportion on such terms and
conditions as the trustees may think fit and proper;
(f) To sell dispose of or otherwise transfer any immovable property
comprised in the trust and to invest the sale proceeds thereof in
any investment as the trustees may think fit and proper;
(g) To compromise compound and refer to arbitration all actions suits
proceedings and disputes touching the trust properties or any of
them;
(h) To accept any gift, donation or contribution in cash or in kind from
any one for all or any the objects and purposes of the trust and
on such terms and conditions as the trustees may in their discretion
think fit;
(i) To amalgamate part or whole of the trust properties with these of
Ch. 55] SETTLEMENT?FORMS 395396 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
any other trust having any or all of its objects similar to all or any
of the objects of this trust;
(j) To appoint constituted attorneys or agents and to delegate to such
attorneys or agents all or any of the powers vested in them under
those presents;
(k) To appoint a Secretary, Clerk or Clerks or other employees to look
after and manage the trust properties and to allot to such Secretary,
Clerk or Clerks or other employees such duties as the trustees may
think fit and proper.
7. A trustee shall not be responsible or answerable for any loss or any
act of omission or commission by any constituted attorney or agent or
employee or the other trustees unless occasioned by his wilful neglect or
default.
8. The number of the trustees shall not be less than three and more than
five.
9. In all meetings of the trustees two will form a quorum provided however
that if the number of trustees falls below two then for the prupose of
appointing a trustee one will be a quorum.
10. In case of difference the opinion of the majority shall prevail.
11. Any of the Trustees may retire on giving one month?s notice in writing
to the other trustee or trustees.
12. If any trustee shall die or retire or become incapable or unfit to act,
the continuing or surviving trustee or trustees shall be entitled to appoint
a successor in the place and stead of the trustees dying or retiring or
becoming incapable or unfit to act.
13. If at any time, the number of trustees is less than three the existing
trustees may appoint one or more trustees at their discretion but in any case,
the total number of trustees including the new trustee to be appointed shall
not exceed five.
14. Upon the appointment of a new trustee the trust properties shall vest
in the new trustee jointly with the continuing or surviving trustees with the
power and subject to the trust hereby created.
IN WITNESS WHEREOF the settlor and the Trustees have hereunto set and
subscribed their respective hands the day……. month and year first above
written.
SIGNED AND DELIVERED by the Settlor
at Kolkata in the presence of:
SIGNED AND DELIVERED by the
Trustees at Kolkata in the presence
of:5
Deed of settlement by mother for the benefit of herself and
her two daughters ? She appoints herself as
one of the co-trustees
THIS DEED OF SETTLEMENT made this……. day of…….. 20…. BETWEEN
Smt…………… widow of late…………….. by faith Hindu, by occupation
housewife residing at………. hereinafter referred to as the ?SETTLOR? of the
ONE PART AND (1) Smt………………….. widow of late……………by faith Hindu,
by occupation housewife, residing at……………. (2) Shri……………. son
of…………….. by faith Hindu, by occupation Business, residing at……………..
and (3) Shri……………… son of…………… by faith Hindu, by occupation
Business, residing at………….. hereinafter collectively referred to as the
?TRUSTEES? (which expression shall unless excluded by or their successors
in office) of the OTHER PART.
WHEREAS the Settlor is absolutely seized and possessed of and
otherwise well and sufficiently entitled to the property mentioned in the
Schedule ?B? hereunder written.
AND WHEREAS the Settlor has natural love and affection for her daughters
viz. (1)………….. (2)……………..
AND WHEREAS the Settlor is desirous of making provision for her said
daughters by settling the property hereunder mentioned on trust for them.
AND WHEREAS for the said purpose the Settlor is desirous of transferring
and assigning the said property mentioned hereunder to the Trustees TO
HOLD the same and the income thereof for the absolute benefit of the Settlor
herself and for her said daughters viz. (1)…………….. (2)…………….. in the
manner provided hereunder with the powers authorities and on the terms
hereinafter contained.
NOW THIS DEED WITNESSETH AS FOLLOWS:
1. The Settlor hereby transfers and assigns the said property fully
mentioned in the Schedule A, hereunder written to the Trustees of the Trust
and to persons hereafter becoming the trustee or trustees of the said Trust
TO HOLD the said Trust property and all investments at any time represent-
ing the same or any part thereof and any other property or moneys which
the settlor may hereafter transfer to the trustees for the said trust from time
to time for the purpose of the said trust all hereinafter referred to and
included in the expression ?The Trust Estate? and all income arising
therefrom to pay and apply the same in the manner hereinafter mentioned.
2. The name of the Trust shall be ?……………… ?
3. The Office of the Trust shall be situated at………… or at such place as
the Trustees may decide from time to time.
Ch. 55] SETTLEMENT?FORMS 397398 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
4. The number of Trustees shall not be less than 3 not more than 5 at
any time.
5. The following shall be the first Trustees of the Trust:
(a) Smt. Tarulata Debi (Nath) wife of………………..residing at…………………
(b) Sri Narayan Chandra Nath S/o. late……………….. residing at……………
(c) Sri Jagat Bandhu Nath S/o. late………………… residing at………………..
6. Any vacancy existing or occurring in the Board of Trustees may be
filled up by Smt. Tarulata Debi (Nath) and failing her by the remaining Trustee
of the Trustees for the time being by majority of votes.
7. The office of the Trustee shall ipso facto become vacant on the
happening of any of the following events, viz. on the Trustees.
(a) Death;
(b) Insanity;
(c) Resignation;
(d) Being rendered incapable to perform the duties of a trustee;
(e) Being convicted of any serious criminal offence involving moral
terpitude.
8. Trustees shall hold the trust estate for the absolute benefit of the said
Smt. Tarulata Debi (Nath) and her said two daughters and to pay the
following amounts to them out of the income of the said trust estate from
time to time as follows:
(a) To pay the income of the Trust estate to the said beneficiary by such
priodical payments as the trustees may from time to time decide
for the purpose of maintenance, and upkeep, marriage and
education of the said beneficairies provided that if in the opinion
of Smt. Tarulata Devi (Nath) the moiety of amount is demand
insufficient for the said purposes the trustees shall be empowered
to pay such amount for the said purpose as Smt. Tarulata Debi
(Nath) consider proper.
(b) To accumulate the residue of the income to form part of the Trust
Estate.
9. In case the Settlor Smt. Tarulata Debi dying during the subsistence
of the Trust the Trust shall continue and the Trust estate shall be governed
by normal law of succession and shall vest in such person or persons who
will be entitle by operation of law. In the event of the beneficiaries dying
before the trust is wound up as aforesaid, the trust estate shall belong to
Smt. Tarulata Debi (Nath) and she shall be entitled to deal with it in any
manner either by will or by deed as she thinks proper.
10. The duties and powers of the trustees shall be:
(a) To possess and manage the Trust Estate or the investments for thetime being representing the Trust Estate and to do all acts
necessary for the maintenance and preservation thereof. In case
the Trust Estate in converted into cash or securities or other
movable property the Trustees shall be entitled and empowered
to keep the name at such place or places as they deem fit and
proper whether in India or outside India.
(b) To pay all expenses relating to the affairs administration and
management of the Trust.
(c) To pay the moneys hereby directed to be paid.
(d) The Trustees shall be at liberty to sell, call in, collect or convert into
money the Trust Estate or the investments in which the Trust Estate
is for the time being invested and to vary the investments from time
to time and re-invest the same at their discretion and for that
purpose. The Trustees shall have the power to execute, transfer
of any shares, debentures or securities or to convey any property
forming part of the Trust and to pay reasonable commission and
brokerage and all other usual expenses. The Trustees if so desired
by the beneficiaries and approved by Smt. Tarulata Debi (Nath)
invest the trust estate or any portion thereof in purchase of
immovable property for the residence of the beneficiaries in such
country or place as she may desire.
(e) The Trustees shall open and maintain a banking account with
some schedule bank wherein they shall keep the trust monies and
all securities for monies and title deeds of the Trust properties. Any
two of Trustees shall be entitled to operate such account and
otherwise deal with the same.
(f) To invest the Trust Fund or such portion thereof as they may think
fit and proper in lands, shares of any company, securities including
Government and quasi Government, mortgage debentures, shares,
securities and debentures not necessarily Trust securities or to
invest in mortgage of immovable properties or in such other
manner as they in their discretion think fit.
(g) To compromise, compound, abandon, submit to arbitration or
otherwise settle any debt, account, claim or dispute or suit with
regard to the Trust Fund or the investment for the time being
representing the same or any part thereof or the affiars of the Trust.
(h) To nominate, constitute and appoint attorney or agent and del-
egate to such attorney or agent all or any of the powers vested in
them under these presents.
(i) To keep and maintain accurate account of the income and
expenditure of the Trust;
(ii) To keep and maintain full and accurate account books
properly posted relating to the Trust, its properties and affiars;
(iii) To deal with the correspondence on behalf of the Trust;
Ch. 55] SETTLEMENT?FORMS 399400 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
(iv) At the close of every year to get the accounts audited;
(v) To demand, realise and receive the interest, dividends, rents
and other income of the Trust Fund or property from persons,
firms or companies liable to pay the same and to realise the
same from the Public Debt Office;
(vi) A competent auditor or a firm or Auditors may be appointed
as the secretary or secretaries on such terms as to remunera-
tion and period as the Trustees may think fit.
(i) To appoint clerks or other employees for managing the affairs of
the Trust or for collection of income thereof and pay such salaries
or remunerations as the Trustees may think fit.
(j) To accept for the purpose of trust any moneys, shares, debentures
or securities or any other movable or immovable properties from
the Settlor at any time either by gift or under a Will and to deal with
the same in terms of this deed.
(k) If at any time any immovable property is acquired by the Trustees
for the purpose of the Trust the Trustees shall be empowered to
allow the beneficiaries of the Trust to live in such property free or
rent.
11. The authorities and powers of the Trustees, hereby conferred and
all acts matters and deeds required to be done and performed may be done
and performed by the remaining trustees or the sole Trustee for the time
being during the period of any vacancy or vacancies and all such acts
matters and deeds shall be valid and binding on the Trust.
12. The Trustees shall in all respects act according to the resolution of
the Board of Trustees and conform in every respect to the rules and
regulations made or directions given by the Board of Trustees from time to
time relating to the affairs of the Trust including the exercise of the voting
power in respect of the shares belonging to the Trust. The failure to do so
will amount in breach of trust. Any Trustee shall be liable to be removed
for breach of trust.
13. The Trustees will be paid all travelling and other out-of-pocket
expenses actually incurred by them in connection with the management
of the Trust. Any Trustee who is called upon to make any special exertions
for the affairs of the Trust or who is required to take special pains or has
to devote special time and attention shall be entitled to such remuneration
out of the Trust Fund as the Trustees may decide from time to time. Any
Banker legal adviser or any other professional person appointed as Trustee
at any time shall be entitled to be paid such reasonable remuneration for
his trouble and loss of time as the Trustees may from time to time decide.
Save as aforesaid the Trustees shall not be entitled to any remuneration
for their services.14. The settlor may at any time hereafter revoke the trust hereby created
and in that event the trust estate shall revert back to the Settlor and the
Settlor will be entitled to those properties as absolute owner.
15. For the purpose of the stamp the property is valued at Rs. 48,000
(Rupees Forty eight thousand) only.
The Schedule ?A? referred to above
ALL THAT plot of land measuring approximately………. cottahs……….chittaks
(Bastu) land with pucca wall tile shed situate lying at and being premises
No……….. comprised in Dag No……….. Khatian No…………. J.L. No…………..
Pargana………….. P .S…………. Mouza………. the said land butted and bounded
on the North by 4′ wide passage, on the South by……….. Road, on the East
by……….. on the West by vacant land and thereafter drain.
IN WITNESS WHEREOF the Settlor and the Trustees to these presents have
set and subscribed the respective hands and seals the day, month and year
first above written.
SIGNED, SEALED AND DELIVERED by
the Settlor and the Trustees in the
presence of:
WITNESSES :
1.
2.
[Signature of Settlor]
[Signature of Trustees]
6
Deed of Settlement by mother appointing herself as the
sole trustee for the benefit of her only daughter
reserving the power of revocation
THIS INDENTURE made this………. day of………. 20…. BETWEEN………….
wife of………….. deceased, Housewife, residing at…………….hereianfter
referred to as ?the Settlor? (which term or expression shall unless otherwise
excluded by or repugnant to the context or subject be deemed to mean and
include her heirs executors administrators and representatives) of the ONE
PART AND…………… wife of…………… deceased,…………. residing at……….
hereinafter referred to as ?the Trustee? of the OTHER PART.
WHEREAS the Settlor is the sole and absolute owner of ALL THAT brick
built building together with the piece or parcel of land thereunto belonging
whereon or on part whereof the same is erected and built containing an
Ch. 55] SETTLEMENT?FORMS 401
G : CDD (Vol. 7) ? 26402 CONVEYANCING, DRAFTING & DEEDS [Ch. 55
area of…………. Cottah………. Chittaks………… sq.ft. be the same a little more
or less, comprised in and being formed out of R.S. Dag No………… under
R.S. Khatian No…………. J.L. No………. Touji No…………. Mouza………., now
known and numbered as municipal premises No……….. Sub-Registration
Office at………… within the municipal limits of the………….. Municipal
Corporation in the District of…………. more fully and particularly mentioned
and described in the Schedule hereunder written hereinafter referred to as
?the said trust property? AND WHEREAS the Settlor is now seized and
possessed of or otherwise well and sufficiently entitled to ALL THAT the said
trust property AND WHEREAS due to old age and ailing health of the Settlor,
the Settlor is now desirous of making provision for the proper maintenance
of the said trust property and the accretions thereto during the life-time of
the Settlor and settling the same to the use and trust hereinafter apeparing
after her demise for the benefit of her youngest daughter…………. wife of
Sri……………. residing at………….. being the Beneficiary herein AND WHEREAS
the Settlor for the purpose as aforesaid, is desirous of declaring a trust upon
which she intends that the said trust property and the accretions thereto
should be held from and after the execution of these presents AND WHEREAS
the Settlor after the execution of these presents shall act as the sole Trustee
AND WHEREAS for the purpose of Stamp Duty the said trust property has
been valued at Rs…….. (Rupees…………………) only.
NOW THIS INDENTURE WITNESSETH that in pursuance of and in order to
effectuate the desire of the Settlor hereinbefore recited and in consideration
of proper maintenance and preservation of the trust property and for the
benefit of the Beneficiary who is the only daughter of the Settlor, the Settlor
doth hereby irrevocably grant transfer convey assure and assign unto the
Trustee ALL THAT the brick built building messuage hereditaments tene-
ment and premises together with the piece or parcel of land thereunto
belonging whereon or on part whereof the same is erected and built
containing an area of……… Cottah……… Chittaks and………… sq.ft. be the
same a little more or less comprised in and being formed out of R.S. Dag
No…………. R.S. Khatian No………… J.L. No………… Touji No…………
Mouza…………. being municipal premises No……….. within the municipal
limits of the……………. Municipal Corporation in the District of…………. more
fully and particularly mentioned and described in the Schedule hereunder
written or howsoever otherwise the said land messuage hereditament and
premises being the said trust property or any part or portion thereof now
is or are or heretofore was or were situated butted bounded called known
numbered described or distinguished TOGETHER WITH all ways paths
passages sewers drains water water-courses ditches grounds and soils
therein and all and every manner or other rights lights liberties privileges
easements boundary walls advantages emoluments appendages and
appurtenances thereto belonging which with the same or any part thereof
now are or is or at any time or times heretofore was or were held, used,occupied, accepted, enjoyed, reputed, deemed, taken or known as part and
parcel or member thereof AND ALL THE REVERSION OR REVERSIONS
REMAINDER OR REMAINDERS and all the claims rents issues and profits
thereof and all the estate right title interest properties claim or demand
whatsoever of the Settlor unto upon or in respect of the same AND ALL DEEDS
PATTAHS WRITTINGS MUNIMENTS OR EVIDENCES OF TITLE exclusively relat-
ing thereto which now are or may hereafter be in possession custody or
power of the Settlor or any person or persons from whom the Settlor may
procure the same without any action either at law or in equity TO HAVE AND
TO