Trusts froms by Gupta

Ch. 54] TRUSTS?     FORMS 235
(3) The Trustees shall hold the trust properties and shall from time to time
apply the whole or part of the income and/or the whole or part of the
corpus of the trust properties for the maintenance, education, marriage,
medical relief and otherwise for the absolute use benefit and enjoyment
of one or more male and female lineal descendants and their spouses
and children in such proportion or share as the Trustees may in their
absolute discretion think fit and proper and upon expiry of the period
of……… years from the date hereof or whichever event happens later
the  Trustees shall divide and hand over the trust properties or so much
thereof as then may remain in their hands amongst the beneficiaries
then living in equal proportion or in such proportion as the  Trustees may
in their absolute discretion think fit and proper.
(4) 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 is vested in the  Trustees and for this purpose without
prejudice to all general powers mentioned above, the  Trustees have got
powers to enter into partnership and other contracts, borrow money
and furnish security as may be considered necessary by the Trustees.
(5) The Trustees have the following powers:
(a) To convert, invest the  Trust properties or the income thereto either
in the purchase or mortgage of moveable 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
or persons or firms including any firm or firms 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 reinvest the same in any manner as the Trustees may in their
discretion think fit;
(c) To open account in the name of the Trust with any Bank or Banks
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 adminis-
tration and management of the Trust properties for the time being;
(e) To sell, dispose of or otherwise transfer any moveable or immo-
vable property comprised in the Trust and to invest the sale
proceeds thereof in any investment as the trustees may think fit
and proper;236 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
(f) To compromise, compound and refer to arbitration all actions,
suits, proceedings and disputes touching the trust properties or
any of them;
(g) To accept any gift, donation or contribution in cash or in kind from
any one for the objects and purposes of the Trust and on such
terms and conditions as the Trustees may in their discretion may
think fit;
(h) To amalgamate part or whole of the Trust properties with those
of any other Trust having any or all of its objects similar to all or
any of the objects of this Trust;
(i) To appoint constituted attorney or agents and to delegate to such
attorneys or agents all or any of the powers vested in them under
these presents;
(j) 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.
(6) A Trustee shall not be responsible or answerable for any loss or any
act of omission or commission by his constituted attorney or agent or
employees or the other  Trustees unless occasioned by his wilful neglect
or default.
(7) The number of the Trustees shall not be less than two or more than
five.
(8) In all meetings of the Trustees two will form a quorum provided,
however, that if the number of the Trustees falls below two, then one
will be competent for the purpose of appointing a Trustee.
(9) In case of any difference between the Trustees, the opinion of the
majority shall prevail.
(10) Every Trustee will be at liberty to nominate or appoint constituted
attorneys or agents and to delegate all or any of the duties and powers
vested in them to such constituted attorneys or agents and from time
to time to remove such attorneys or agents and reappoint other or
others in his place.
(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 Trustee dying or retiring or
becoming incapable or unfit to act.
(13) If at any time, the number of the Trustees is less than two, the existing
Trustees shall appoint one or more Trustees at their discretion, but in
any case, the total number of Trustee including the new Trustees to be
appointed shall not exceed five.Ch. 54] TRUSTS?FORMS 237
(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 ……………. in the presence of :
SIGNED AND DELIVERED by the Trustees at …………… in the presence of :
26
Deed of appointment of new trustee by sole surviving
trustee upon death of the remaining trustees, in
terms of the original trust deed
THIS DEED OF APPOINTMENT OF NEW  TRUSTEE made this day of
…………………………….. BETWEEN A.B. etc.  …………………. hereinafter referred to
as  ?the Present  Trustee? (which expression shall unless excluded by or
repugnant to the subject or context mean and include his successors or
successors-in-office and assigns) of the ONE PART AND
(1)  C.D. etc.  ……………………………………………………………..
(2) E.F . etc. ……………………………………………………………..
(3) G.H. etc. …………………………………………………………….
(4) I.J. etc.  ……………………………………………………………….
hereinafter collectively referred to as  ?The New  Trustees? (which expression shall
unless excluded by or repugnant to the subject or context mean and include them
as well as their respective successor or successors-in-office of the Other Part.
WHEREAS
(1)  By an Arpannamah dated the …………………..  executed by X.Y., disciple
of Swami ……….., deceased, the said X.Y. since deceased dedicated ……. bighas
of land together with the trees, buildings, wells etc.  as mentioned therein to Y.Z.
together with the other rights and interests that he had and appointed himself
together with the said A.B., M.N., M.P .   and P.Q. as  Trustees for the management
thereof and with and subject to the powers and provisions by and in the said
Arpannamah declared and contained.
(acquisition of further lands and construction, dharamsala, temple and school
to be recited).
(2) The said M.N., M.P . and P .Q. have died from time to time leaving the
present Trustee as the sole surviving trustee of the said Trust.
(3) The present trustee has decided to co-opt the New Trustees as Trustees
of the said Trust.
(4) The Sanatan Dharmi, resident of…….. also approve of the appointment
of the New Trustees as Trustees of the said Trust.238 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
(5) The New Trustees have agreed to become trustees of the said Trust.
NOW THIS DEED WITNESSETH that in exercise of the powers vested in him
by the said Arpannamah dated …… and of every other power enabling the said
present Trustee to appoint the new Trustees as Trustees of the said Trust the
Present  Trustee doth hereby appoint the New  Trustees to be  Trustees of the said
Trust with effect from the date of execution of these presents which the said New
Trustees do and each of them doth hereby accept and that the Present and the
New  Trustees shall hold the Trust Properties 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 have
been acquired or will be acquired for the purpose of the trust or are subject to
the Trust (hereinafter referred to ?the said Trust Properties?) upon trust for the
objects and purposes mentioned in the said Arpannamah with the powers and
on the terms and conditions declared under the said Deed of Arpannamah and
concerning the same.
IN WITNESS WHEREOF the paties hereto set and subscribed their respective
hands, the day month and year.
SIGNED and DELIVERED etc.  by the settlor at………  in the presence of:
27
Deed of Declaration of trust for settlement of moveable
property through private discretionary trust for the benefit
of family members and their descendants with powers given
to the trustees to convert, sell, alter, vary or otherwise to
dispose of or alienate the trust properties, and to invest
trust fund in any business or any other investment
representing the same
THIS DECLARATION OF TRUST made this ……………………………………. day of
Two thousand and…………….  BETWEEN  …………………………. son of
………………………………………………., residing at ……………………………. hereinaf-
ter referred to as ?the Settlor? (which expression shall unless excluded by or
repugnant to the subject or context mean and include his heirs, executors,
successors, administrators and legal representatives) of the One Part and (l)
………………………….. son of …………………………………………… residing at
………………………. and (2) ………………………………………………, son of
………………………………. residing at ……………………………………….. hereinafter
collectively referred to as  ?the  Trustees? (which expression shall unless excluded
by or repugnant to the subject or context mean and include the Trustee or
Trustees for the time being of these presents and their successor or successors-
in-office) of the Other Part;
WHEREAS
(1) The Settlor being absolutely entitled to certain jewelleries fully describedCh. 54] TRUSTS?FORMS 239
in the Schedule hereunder written and being desirous of settling the same for
the objects and purposes hereinafter mentioned on the …………….. day of ………
transferred and made over the said jewelleries to the said Trustees to be held
upon the trusts or terms and conditions hereinafter declared concerning the
same.
NOW IT IS HEREBY DECLARED as follows :
(1) The Trustees hold and shall hold the said jewelleries mentioned in the
Schedule hereunder written and conversions and/or 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 hereinafter expressed with the
powers and on the terms and conditions following concerning the same.
(2) The name of the Trust is ?…………………. ?
(3) The  Trustees shall hold the trust properties and from time to time during
the lifetime of my son …………… and my grandson  ………………  now
living, apply the whole or part of the corpus and/or income of the trust
properties for the maintenance, education, marriage or otherwise for
the absolute use, benefit and enjoyment of and/or making gifts to my
said son ………  his wife, children and to all other male or female
descedants of mine, their spouse and children in such proportion or
share as the Trustees may in their discretion deem fit and proper and
upon the death of my son and the said grandson the Trustees shall
divide and hand over the Trust property or so much thereof as then may
remain in their hands amongst the beneficiaries then living in such
share or proportion as the Trustee may decide in their sole discretion.
(4) 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 is vested in the trustees and for this purpose without prejudice
to all general powers mentioned above the Trustees have got powers
to enter into partnership and other contracts, borrow money and furnish
security as may be considered necessary by the Trustees.
(5) The Trustees have the following powers:
(a) To convert, invest the trust properties or the income thereto either
in the purchase or mortgage of moveable 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
or persons or firms 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;240 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
(b) To sell, alter, vary or transpose or otherwise dispose of or alienate
the trust properties or any investment representing the same in
any manner as the Trustees may in their absolute discretion think
fit;
(c) To re-make, re-model, renew, polish the said jewelleries in such
manner as the Trustees may deem fit and proper;
(d) To make new ornaments, and jewelleries from the said jewelleries
or from the proceeds thereof;
(e) To open account in the name of the Trust with any Bank or Banks
to operate such account and to give necessary instructions to the
Bank;
(f) 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 adminis-
tration and management of the trust properties for the time being;
(g) To sell, dispose of or otherwise transfer any moveable or immo-
vable property comprised in the trust and to invest the sale
proceeds thereof in any investment as the Trustees may think fit
and proper;
(h) To compromise, compound and refer to arbitration all actions,
suits, proceeding, and disputes touching the trust properties or
any of them;
(i) To accept any gift, donation or contribution in cash or in kind from
any one for the objects and purposes of the trust and on such
terms and conditions as the Trustees may in their discretion may
think fit;
(j) To amalgamate part or whole of the trust properties with those
of any other trust having any or all of its objects similar;
(k) To appoint constituted attorney or agents and to delegate to such
attorneys or agents all or any of the powers vested in them under
these presents; and
(l) 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.
(6) A Trustee shall not be responsible or answerable for any loss or any
act of omission or commission by his constituted attorney or agent or
employees or the other  Trustees unless occasioned by his wilful neglect
or default.
(7) The number of the Trustees shall not be less than two or more than
five.
(8) In all meetings of the Trustees two will form a quorum provided,
however, that if the number of the Trustees falls below three, then for
the purpose of appointing a Trustee one will be a quorum.Ch. 54] TRUSTS?FORMS 241
(9) In case of any difference between the Trustees, the opinion of the
majority shall prevail.
(10) Every Trustee will be at liberty to nominate or appoint constituted
attorneys or agents and to delegate all or any of the duties and powers
vested in them to such constituted attorneys or agents and from time
to time to remove such attorneys or agents and reappoint other or
others in his or their place.
(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 of existing
Trustees shall 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.
THE SCHEDULE ABOVE REFERRED TO
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 & DELIVERED by the SIGNED & DELIVERED by the
Settlor at………………… in the Trustees at ……………..  in the
presence of : presence of :
28
Settlement of property through private family trust for the
benefit of minor children with the powers given to the
trustees to invest trust fund in specified business or to
deal with the Trust properties in specified manners
including sale and also power of amalgamation of
the trust with any other trust having any or all of
its objects similar to all or any of the
objects of this trust
THIS DEED OF SETTLEMENT made this ………………………………. day of Two
thousand and ………………….  BETWEEN ………………  Hindu, by occupation
……………………………………, residing at …………………………………… hereinafter
referred to as ?the Settlor?  (which term or expression shall unless excluded by
or repugnant to the subject or context mean include his/her heirs, executors,
successors, administrators and legal representatives) of the One Part
G : CDD (Vol. 7) ? 16242 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
And (1)…………..  son of ………………………. by religion ………………., by occu-
pation ……………, residing at …………….. (2) ……………………………….. son
of……………………………. by religion ………………….., by occupa-
tion…………………………………., residing at…………………………. hereinafter collec-
tively referred to as  ?the  Trustees?  (which term or expression shall unless excluded
by or repugnant to the subject or context mean and include the Trustee or
Trustees for the time being of these presents and their respective successor or
successors-in-office and assigns) of the Other Part:
WHEREAS
(1)  The Settlor is desirous to settle a sum of Rs……….  (Rupees………….) only
for the objects and purposes hereinafter expressed.
(2)  The Trustees have at the request of the Settlor agreed to act as Trustees
of these presents.
NOW THIS DEED WITNESSETH as follows :
(1) For effecting his said desire and for diverse good causes and consid-
erations him thereunto moving the Settlor doth hereby make over
transfer and assign to the  Trustee a sum of Rs. ……….  (Rupees…………..)
only to hold the same and the investments thereof for the time being
representing the same together with all additions and accretions
thereto and contributions and gifts and all accumulated income thereof
and all other properties that may acquired out of the same or become
subject to the Trust (hereinafter referred to as ?the Trust Properties?)
upon the  Trust for the objects and purposes hereinafter expressed with
the powers provisions and on the terms and conditions hereinafter
mentioned concerning the same.
(2) The  Trustees have accepted the said sum of Rs………. (Rupees………..)
only and agrees to hold the same and investments thereof for the time
being representing the same together with all additions and accretions
thereto and contributions and gifts and all accumulated income thereof
and all other properties that may be acquired out of the same or become
subject to the  Trust for the objects and purposes hereinafter expressed.
(3) The name of the Trust shall be ?………………………. ?
(4) The  Trustees shall hold the  Trust Properties and as and when
necessary from time to time apply the whole or part of the income and/
or whole or part of the corpus of the Trust Properties for the mainte-
nance, education, marriage, medical relief and for transfer to and/or
otherwise for the absolute use benefit and enjoyment of
(1)……………………………………………………………, son/daughter
of……………………………..  (2)……………………………………………………., son/
daughter of ……………………………. (3)………………………………….., son/
daughter of ………………………………… all being the minors and herein-
after referred to as ?the said beneficiaries?  until………..  and upon the
expiry of the said period the Trustees shall transfer and hand over theCh. 54] TRUSTS?FORMS 243
Trust Properties then remaining with them to the said beneficiaries
absolutely in equal shares. In the event of any one or two of the said
beneficiaries dying before he/she becomes entitled to receive the  Trust
Properties as aforesaid the  Trustees shall hold and continue to hold the
Trust Properties for the surviving beneficiary or beneficiaries and upon
expiry of the aforesaid date transfer and hand over the Trust Properties
then remaining with them to the surviving beneficiary/beneficiaries in
equal shares or in its entirety as the case may be. In the event of all
of the said beneficiaries dying before the said date the Trustees shall
hand over the  Trust Proper ties to ………………….. and
………………………………  as ultimate beneficiaries and if such beneficia-
ries are minor the same shall be handed over and delivered to the
natural guardian or certificated guardian of the said ultimate beneficia-
ries.
(5) The general management and control of the Trust for the purpose of
managing the Trust affairs and properties which includes any business
trading undertaking which may hereafter be vested in Trustees and
started commenced carrying out the objects of the Trust is vested in
the  Trustees and for this purpose without prejudice to all general powers
mentioned herein, the Trustees have got the powers to enter into
partnership and other contracts, borrow money and furnish security as
may be considered necessary by the Trustees.
(6) The Trustees shall also have the following powers and authorities:
(a) To carry on, start, commnence, deal in as the case may be any
business, trade merchandise of whatsoever nature either alone
or jointly with any other person in any manner allowed by law on
such terms and conditions as the Trustees deem fit and proper
and also to buy and sell shares and securities and for such
purpose to sign and execute all necessary Transfer Deeds;
(b) To invest the Trust Properties or the income thereof either in the
purchase or mortgage of moveable 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 with or without any security as the Trustees may think
fit and proper;
(c) To sell, alter, vary or transpose or otherwise dispose of or alienate
the  Trust Properties or any investment representing the same and
to reinvest the same in any manner as the Trustees may in their
discretion think fit and proper;
(d) To pay all charges, impositions and other outgoings payable in244 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
respect of the Trust Properties or any property comprised in the
Trust and also to pay all costs of and incidental to the adminis-
tration and management of the  Trust Properties for the time being;
(e) To let out or demise for any period upto or any longer period
exceeding any immovable properties that may be comprised in
the  Trust Properties on such terms and conditions as the  Trustees
may in their discretion think fit and proper;
(f) To sell dispose of or authorise transfer any immovable property
which may be comprised in the Trust and to invest the sale
proceeds thereof in any investment as the Trustees may in their
discretion think fit and proper;
(g) To raise or borrow money required for the purposes of the said
Trust on a mortgage, hypothecation, charge or pledge of the  Trust
Properties or any part thereof with or without security and at such
rate of interest and on such terms as the Trustees may in their
discretion think fit and proper;
(h) To compromise compound and refer to arbitration all actions,
suits, proceedings and disputes touching and concerning the
Trust Properties or any of them;
(i) To accept any gift or contribution in cash or in kind from any person
for all the objects and purposes of the Trust;
(j) To amalgamate part or whole of the Trust Properties with those
of any other Trust having any or all of its object similar to all or
any of the objects of this Trust;
(k) To appoint constituted attorneys or agents and to delegate to such
attorneys or agents all or any of the powers vested in them under
these presents;
(l) 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 employee such duties as the
Trustees may in their discretion think fit and proper;
(m) The Trustees shall have power to regulate their proceedings and
if necessary to frame necessary rules and regulations for any
purpose of the said Trust and for carrying out the objects of the
said  Trust or in connection with the meetings and from time to time
amend, add to or alter the same.
(7) The said ………………………….  will be the Managing Trustee for his life
and shall alone without the concurrence of the other  Trustee or  Trustees
be entitled to exercise all powers and authorities herein mentioned to
be exercised by the Trustees jointly.
(8) The Trustees shall be entitled to open and operate account/accounts
with any Bank but any one Trustee shall be entitled to deposit all the
sums therein including the sums that may be received on account ofCh. 54] TRUSTS?FORMS 245
and for the Trust hereof whether as gift, contribution, interest, dividend
or income or otherwise and to give all instructions to the Bank for
transfer and/or retransfer of any amount and/or interest from one
account to the other and vice versa.  Notwithstanding anything here-
inbefore or hereinafter contained the said Mr. ………………….., the
managing trustee shall be entitled to open and/or operate the banking
account or accounts and to give all instructions inter alia to payment
by Bank of interest, deposit or other moneys, including instructions as
to creation, renewal, withdrawal and/or transfer of fixed deposit for any
term to any Bank as he may deem fit and proper and also to create
fixed deposit and/or withdraw before or at the time of maturity of fixed
deposit, without the concurrence of other Trustee or Trustees.
(9) Every Trustee shall, with the approval of the remaining Trustees, be at
liberty to nominate or appoint constituted attorney or agent and to
delegate such constituted attorney or agent all such duties and/or
powers as may be necessary to implement and carry out and/or to
execute documents in accordance with the decision of the  Trustees and
from time to time remove such attorney or agent and re-appoint other/
others in his or their place.
(10) Any Trustee may delegate in writing all or any of his/her powers and
authorities to his or her co-trustee who will be entitled to exercise such
power or powers in the same manner as the Trustee himself or herself
could do personally.
(11) The Trustees may by a resolution direct any act deed or thing required
to be done or executed by them to be done or executed by any one
or more of them and in such cases any act deed or thing done or
executed in pursuance of such resolution shall be valid and effectual
if it had been done or executed by all the Trustees. Such delegation of
authority may be general or special.
(12) A resolution in writing circulated amongst all the Trustees and passed
by majority of the Trustees shall be as valid and effectual as if it had
been passed at a meeting of the Trustees duly called and convened.
(13) The  Trustees shall be at liberty to employ or engage Solicitors,
Advocates, Banker, Broker or any other agents as they in their
discretion may think fit and proper in connection with any matter relating
to the Trust or affairs thereof and shall be entitled to pay all charges
and expenses thereof out of the income of the said Trust properties.
(14) 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 co-trustee or trustees unless occasioned by his/
her wilful neglect or default.
(15) The Trustees shall be respectively chargeable only for such moneys,
stock, shares, funds and securities as they shall actually receive
notwithstanding their respectively signing a receipt jointly with others
for the sake of conformity and shall be answerable and accountable246 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
for their own accounts, receipts, neglects and defaults respectively and
shall not be answerable for the other or others of them, nor for any
banker, broker or other person with whom or into whose hands any trust
moneys or securities may come or be deposited or given nor for the
insufficiency or deficiency of any stocks, shares, funds or other
securities nor for any other loss unless the same shall happen through
their own wilful default or neglect respectively.
(16) The number of the Trustees shall not be less than two and more than
five.
(17) In case of difference, the opinion of the majority shall prevail.
(18) 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
purpose of appointing a Trustee one will be a quorum.
(19) Any of the Trustees including Managing Trustee may retire on giving
one month?s notice in writing to the other Trustee or Trustees.
(20) If any Trustee shall die or retire or become incapable or unfit to act, the
continuing or surviving  Trustees shall be entitled to appoint a successor
in the place and stead of the Trustee dying or retiring or becoming
incapable or unfit to act.
(21) Upon the appointment of a new  Trustee or  Trustees the  Trust Properties
shall vest in the new Trustee or Trustees jointly with the continuing or
surviving Trustees with the powers provisions 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 & DELIVERED by the SIGNED & DELIVERED by the
Settlor at………………… in the Trustees at ……………..  in the
presence of : presence of :
29
Deed of Settlement, forming private specific accumulation
Trust for the benefit of the settlor?s minor children with
powers given to the trustees to invest the trust fund in any
business, acquire any moveable or immovable property for
the trust out of the trust fund and also to sell or otherwise
deal with the trust property at their sole discretion in
order to achieve the objects of the trust
THIS DEED OF SETTLEMENT made this ………. day of ………..  Two thousand
and………………..  BETWEEN (l) A.B., (2) C.D. and hereinafter jointly referred to
as the SETTLORS? (which term or expression shall unless excluded by or
repugnant to the subject or context mean and include their respective heirs,
successors, executors, administrators and legal representatives) of the ONECh. 54] TRUSTS?FORMS 247
PART and (l) M.N. (2) M.P. (3) P.Q. etc.  …………………….. all sons of the said A.B.
hereinafter collectively referred to as ?the TRUSTEES?  (which expression shall
unless excluded by or repugnant to the subject or context be deemed to include
the Trustee or Trustees for the time being of these presents and their respective
successor or successors-in-office) of the OTHER PART :
WHEREAS
(1) Each of the Settlor desires to settle the sum hereinafter mentioned for
the objects and purposes as hereinafter expressed.
(2)  The  Trustees have at the request of the Settlors agreed to act as  Trustees.
NOW THIS DEED WITNESSETH as follows:
(1) In order to effectuate the said desire each of the Settlor doth hereby
make over and assign to the Trustees a sum of Rs…………….  (Ru-
pees……………) only respectively aggregating to Rs……………. (Ru-
pees……………) only to hold the same and the investments thereof for
the time being representing the same together with all additions and
accretions thereto and all accumulations 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 hereinafter 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 shall from time to time
apply the whole or part of the income and/or whole or part of the corpus
of the  Trust Properties for the maintenance, education, betrothal
marriage of and for transfer to and/or otherwise applying for the
absolute use, benefit and enjoyment of Kumari  ?…………..?, minor
daughter of A.B. hereinafter referred to as  ?the beneficiary? and in any
case upon the expiry of 18 (Eighteen) years from the date hereof the
Trustees shall hand over so much of the trust property as may then
remain in their hands to such beneficiary.
(4) 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 is vested in the  Trustees and for this purpose without
prejudice to all general powers mentioned above, the  Trustees have got
powers to enter into partnership and other contracts, borrow money
and furnish security as may be considered necessary by the Trustees.
(5) The Trustees have the following powers:
(a) To convert, invest the  Trust Properties or the income thereto either
in the purchase or mortgage of moveable or immovable proper-
ties, ornaments, jewelleries, 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 powers248 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
of the Trustees to invest Trust Funds or not or in deposit with or
loan to any company, bank or persons or firms including any firm
or firms 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 reinvest the same in any manner as the Trustees may in their
discretion think fit.
(c) To open account in the name of the Trust with any Bank or Banks,
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 adminis-
tration and management of the  Trust Properties for the time being.
(e) To sell, dispose of or otherwise transfer any moveable or immov-
able property comprised in the  Trust and to invest the sale
proceeds thereof in any investment as the Trustees may think fit
and proper.
(f) To compromise, compound and refer to arbitration all actions,
suits, proceedings and disputes touching the Trust Properties or
any of them.
(g) To accept any gift, donation or contribution in cash or in kind from
any person for the objects and purposes of the Trust and on such
terms and conditions as the Trustees may in their discretion may
think fit.
(h) To appoint constituted attorney or agents and to delegate to such
attorneys or agents all or any of the powers vested in them under
these presents.
(i) 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.
(6) Any act, deed or thing required to be done or executed by the trustees
including the drawing and signing and endorsing of cheques and the
endorsement of Government Securities shall be deemed to be done
by all the trustees if it is done or executed by any one of the trustees
if authorised by a resolution of the trustees.
(7) A Trustee shall not be responsible or answerable for any loss or any
act of omission or commission by his constituted attorney or agent or
employees or the other  Trustees unless occasioned by his wilful neglect
or default.Ch. 54] TRUSTS?FORMS 249
(8) The number of the Trustees shall not be less than one or more than
three.
(9) In case of any difference between the Trustees, the opinion of the
majority shall prevail.
(10) The trustees may regulate their meetings and proceedings and
conduct of duties as they may decide. Resolution passed without any
meeting and evidenced in writing under the hands of the majority of
the trustees shall be as valid and effectual as a resolution passed at
a meeting of the trustees.
(11) Every Trustee will be at liberty to nominate or appoint constituted
attorneys or agents and to delagate all or any of the duties and powers
vested in them to such constituted attorneys or agents and from time
to time to remove such attorneys or agents and re-appoint other or
others in his or their place.
(12) Any of the Trustees may retire on giving one month?s notice in writing
to the other Trustee or Trustees.
(13) 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 Trustee dying or retiring or
becoming incapable or unfit to act.
(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 & DELIVERED by the SIGNED & DELIVERED by the
Settlor at………………… in the Trustees at ……………..  in the
presence of : presence of :
30
Deed of settlement establishing private specific trust in
respect of immovable property in favour of settlor?s
married daughter and major son with the power and
direction given to the trustees to hold the property
in trust for the specified period and thereafter transfer
the same in favour of the said beneficiaries and in the
event of death of both the beneficiaries prior to
that date, to the settlor, with further power and
discretion to sell or deal with the trust
property during the said period according to
the sole discretion of the trustees
THIS DEED OF SETTLEMENT made this ……… day of Two thousand and250 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
…………… BETWEEN ………………., widow of ………………, by religion Hindu, by
occupation housewife, residing at ……………………………..  hereinafter referred to
as  ?the  SETTLOR? (which term or expression shall unless excluded by or
repugnant to the subject or context mean and include her heirs, successors,
executors, administrators and legal representatives) of the One part AND (1)
……………………………………………….  widow of ………………………  by religion Hindu
by occupation housewife residing at ………………………………..  (2) ………………………
by religion Hindu by occupation …………………..  residing at ……………. hereinafter
collectively referred to as  ?the  TRUSTEES? (which term or expression shall unless
excluded by or repugnant to the subject or context mean and include the  Trustee
or Trustees for the time being of these presents and their respective successor
or successors-in-office and assigns) of the Other Part :
WHEREAS
(1)  By a Deed of Partition dated …………. made between ……………………. and
registered in Book No. ………………………..   Volume No. ………., Pages……..
to……….., Being No.
For the year ………..  at the office of the Sub-Registrar………….  the Settlor
herein  inter alia was allotted all that the property fully described in the Schedule
hereunder written and hereinafter referred to as ?the said property? free from
encumbrances and charges whatsoever absolutely and forever.
(2)  The Settlor is seized and possessed of and/or otherwise well and
sufficiently entitled to the said property free from all encumbrances and charges
whatsoever.
(3) The Settlor for the purpose of making provision for the benefit of his
married daughter Sm.  ……………………  wife of ………………………  resident of
………………… her/his son ………………… resident of ………………… is desirous of
irrevocably conveying the same to the  Trustees upon trust hereinafter expressed
concerning the same.
(4) The Trustees have at the request of the Settlor agreed to act as the
Trustees of these presents.
NOW THE INDENTURE WITNESSETH as follows :
(1) In order to effectuate the said desire the Settlor doth hereby convey,
transfer and assign unto the said Trustees all that land and buildings
lying and situate at …………………………  and fully described in the
Schedule hereunder written OR HOWSOEVER OTHERWISE the said
properties now are or is or heretofore were or was situate butted and
bounded called known numbered described in or distinguished to-
gether with all benefits and advantages of ancient and other lights,
ways, paths common or other passages, drains, water, watercourses
and all manner of former and other rights, liberties, easements,
privileges, profits, appendages and appurtenances whatsoever to the
said properties and belonging or in anywise appertaining to or with the
same or any of them or any part thereof now or at any time heretofore
held, used, occupied or enjoyed therewith and all rents issues andCh. 54] TRUSTS?FORMS 251
profits of and in connection with the said properties and all the estate,
right, title, interest, property claim and demand whatsoever of the
Settlor of into or upon the said properties TO HAVE AND TO HOLD the
said properties hereby granted, transferred, conveyed and assured or
intended so to be or every part thereof together with rights, members
and appurtenances whatsoever rent and all additions and acquisitions
thereto and all other properties that may be vested in the Trustees
(hereinafter collectively referred to as  ?the  Trust Properties?) upon trust
for the objects and purposes hereinafter expressed with the powers
and on the terms and conditions hereinafter declared and concerning
the same.
(2) The name of the Trust shall be ?…………… ?
(3) The Trustees shall hold the Trust properties for the use and benefit of
the said Sm./Sri …………………………….. hereinafter referred to as ?the
said beneficiary? for a period of……….years and upon expiry of the said
period the Trustees shall transfer and hand over the Trust Properties
to the said beneficiary, absolutely. In the event of the said beneficiary
dying before the expiry of the said period the Trustees shall hand over
the trust properties to the Settlor.
(4) The Trustees shall have the following powers:
(a) 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 adminis-
tration and management of the trust properties for the time being.
(b) To compromise compound and refer to arbitration all actions,
suits, proceedings and disputes touching and concerning the trust
properties or any of them.
(c) To accept any gift or contribution in cash or in kind from any person
for all or any of the objects and purposes of the Trust and on such
terms and conditions as the Trustees may in their discretion think
fit and proper.
(d) To appoint constituted attorneys or agents and to delegate to such
attorneys or agents all or any of the powers vested in them under
these presents.
(e) 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 in their discretion think fit and proper.
(f) The Trustees shall have power to regulate their/proceedings and
if necessary to frame necessary rules and regulations for any
purpose of the said Trust or in connection with the meetings and
from time to time amend, add to or alter the same.
(g) Notwithstanding the foregoing provisions the Trustees shall be at252 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
liberty to sell, mortgage, lease or otherwise dispose of the said
trust properties or any part thereof on such terms and conditions
as may be mutually agreed.
(5) Every Trustee shall, with the approval of the remaining Trustees, be at
liberty to nominate or appoint constituted attorney or agent and to
delegate such constituted attorney or agent all such duties and/or
powers as may be necessary to implement and carry out and/or to
execute documents in accordance with the decision of the  Trustees and
from time to time remove such attorney or agent and re-appoint other
or others in his or their place.
(6) Any Trustee may delegate in writing all or any of his powers and
authorities to his co-trustee who will be entitled to exercise such power
or powers in the same manner as the Trustees himself could do
personally.
(7) The Trustees may by a resolution direct any act deed or thing required
to be done or executed by them to be done or executed by any one
or more of them and in such cases any act deed or thing done or
executed in pursuance of such resolution shall be valid and effectual
if it had been done or executed by all the Trustees. Such delegation or
authority may be general or special.
(8) A resolution in writing circulated amongst all the Trustees and passed
by majority of the Trustees shall be as valid and effectual as if it had
been passed at a meeting of the Trustees duly called and convened.
(9) The Trustees shall be entitled to open account with any bank but any
one Trustees shall be entitled to deposit all the sums that may be
received on account of and for the  Trust hereof whether as gift,
contribution, interest, dividend or income and to give all instructions to
the Bank for transfer and/or retransfer of any amount and/or interest
from one account to the other and vice versa. Notwithstanding anything
hereinbefore or hereinafter contained the said Sm.  ……………………….
will be the Managing Trustee for his life and shall be entitled to open
and operate the banking accounts and give all instructions to the bank
as she may deem fit and proper without the concurrence of other
Trustees. Save as aforesaid the bank account shall be operated jointly
by all the Trustees for the time being.
(10) The  Trustees shall be at liberty to employ or engage Solicitors,
Advocate, Banker, Broker or any other agents as they in their discretion
may think fit and proper in connection with any matter relating to the
Trust or affairs thereof and shall be entitled to pay all charges and
expenses thereof out of the income of the said trust properties.
(11) 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 co-trustee or Trustees unless occasioned by his
wilful neglect or default.Ch. 54] TRUSTS?FORMS 253
(12) The number of the Trustees shall not be less than two and more than
five.
(13) In case of difference, the opinion of the majority shall prevail.
(14) 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
purpose of appointing a Trustee one will be a quorum.
(15) At any time, the continuing or surviving Trustees may in their discretion
further appoint but in any case the total number of the then continuing
or surviving Trustees including the new Trustees to be so appointed
shall not exceed five.
(16) Any of the Trustees may retire on giving one month?s notice in writing
to the other Trustee or Trustees.
(17) If any Trustee shall die or retire or become incapable or unfit to act, the
continuing or surviving  Trustees shall be entitled to appoint a successor
in the place and stead of the Trustee dying or retiring or becoming
incapable or unfit to act.
(18) Upon the appointment of a new  Trustee or  Trustees the trust properties
shall vest in the new Trustee or Trustees jointly with the continuing or
surviving Trustees with the powers provisions and subject to the Trust
hereby created.
THE SCHEDULE ABOVE REFERRED TO
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 & DELIVERED by the SIGNED & DELIVERED by the
Settlor at………………… in the Trustees at ……………..  in the
presence of : presence of :
31
Trust by way of testamentary disposition of immovable
properties in favour of family members
1. I declare that every child of the said A.B. the elder or of the said C.D. the
younger or of the said E.F. or of the said F.C. who shall be hereafter born in my
lifetime shall take an estate for life only in the property fully described in the
schedule hereto and hereinafter referred to as ?the said Estate? with remainder
to his or her first and other sons successively as the case may be.
2.  I declare that every life-tenant of land under this my will shall hold the same
without impeachment for waste and that no portion of rents received under
mining leases shall be capitalised.
The powers of disposition relating (inter alia) to said Estate shall not be
exercised without the consent of my trustees or an order of the court.254 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
3. I declare that it shall be lawful for every person to whom an estate for life
is hereinbefore limited in the said Estate and either before or after he or she shall
by virtue of the trusts hereinbefore contained become entitled to an estate in
possession therein by deed or deeds with or without power of revocation and
new appointment or by will or codicil to appoint the following jointures and
portions :
(i) a yearly rent charge in case of the said Estate not exceeding Rs……
to any woman who may become his widow for her life or any less period
to be issuing out of and charged upon that the said estate in which the
appointor shall have such life estate to take effect from the day of his
death and to be payable by such periodical payments as he shall
prescribe;
(ii) a capital sum for the portions or portion of his or her younger children
or child such capital sum to be charged upon and payable out of that
the said estate which the appointor shall have such life-interest not
exceeding the sum fixed by the following scale namely :
(a) in the case of there being only one younger child of such person
the sum of Rs……;
(b) in the case of there being only to such younger children the sum
of Rs…….;
(c) in the case of there being three or four such younger children the
sum of Rs……;
(d) in the case of there being five or more such younger children the
sum of Rs…….;
together in each case with interest on such sum from the date of the death of
the person making such appointment at the rate of…..  per cent per annum and
also costs of and incident to the raising of such charge and the capital sum so
raised for portions and the interest thereon shall be payable to and be held by
my trustees in trust for such younger child or younger children of the person
making the appointment and their issue or any one or more exclusively of the
others or other of them and if more than one in such shares and subject to such
(if any) powers for advancement maintenance and education of any such child,
children or issue as the person exercising such power may (subject to any rule
against perpetuities) by the same or any subsequent instrument direct and
appoint and subject to any such direction or appointment as last aforesaid such
younger children or child shall take such portions in equal shares.
4. I direct as follows:
(i) that no charge or portions or interest thereon shall operate unless and
until the person creating the same or some person claiming a life or
larger interest therein hereinbefore limited subsequently to the estate
of the creator of such charge shall have become entitled in possession
to the estate so charged;
(ii) that every such charge shall be subject to and be paid after all charges
or portions created under the aforesaid powers by persons whose lifeCh. 54] TRUSTS?FORMS 255
estates under the trusts aforesaid shall have or would but for death have
taken effect in possession prior to that of the appointor;
(iii) that no greater annual sum than Rs……  in the whole shall at any one
time be payable out of the said estate;
that no greater capital sum than Rs………….. in the whole shall be ultimately
charged on the said estate.
5. I declare that in addition to the powers hereinbefore a tenant for life of the
said estate shall have the following powers;
(i) to grant building and mining leases for any term of years not
exceeding……..years;
(ii) to grant agricultural or occupation leases for any term of years not
exceeding…….years;
(iii) to grant or agree to grant any such lease at the termination of any
existing lease or on the happening of any contingent even during its
existence;
(iv) to direct the expenditure of capital monies in or towards payment of the
cost of any improvements of the following nature : (specify the
improvements).
6.  I direct that the trustees may if they think fit before they make any application
of capital money in respect of any such improvement require that some part not
exceeding (one-half) of the capital money so applied shall be repaid to them out
of the income of the said Estate by not more than (twenty-five) half-yearly
instalments the first of such instalments to be paid or to be deemed to have
become payable at the expiration of six months from the date when the work
or operation in payment for which the money is to be applied was completed.
The tenant for life or person or persons having the powers of the tenant for life
shall accordingly have the same power to create a yearly rent charge in favour
of the trustees to discharge the said instalments.
7. In the event of any part of the said Estate being offered for sale or lease
as building land to direct such amounts of capital money as the trustees may
consider reasonable to be applied for the financing of builders who may have
agreed to purchase or take leases of any part of the said Estate on the terms
of erecting buildings thereon before the purchase is completed or the lease
granted such monies to be secured by mortgages of the agreements for sale
or lease in such form as counsel may advise;  and to direct the investment of
capital monies in any of the forms of investment hereinafter authorised for the
investment of the said trust fund.
THE SCHEDULE ABOVE REFERRED TO :
IN WITNESS etc.
(Signatures of the declarant)256 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
32
Declaration of trust of property under a Will
THIS DECLARATION OF TRUST is made the ………day of…….by [names and
addresses, etc., of declarants] (hereinafter called the declarants).
WHEREAS:
(1) [Testator] of [address etc.] has by his will intended to be executed shortly
after the execution hereof devised [and bequeathed] certain property to the
declarants for their own absolute use and benefit.
(2) The declarants as they hereby acknowledge are not to hold the said
property for their own absolute use and benefit but upon the trusts hereinafter
declared.
(3) The said property is specified in the schedule hereto.
NOW IT IS HEREBY DECLARED that if and when the said will shall become
effective in law and the said property shall be vested in the declarants such
property shall be held by the declarants upon the following trusts:
[Set out trusts]
SCHEDULE
[Description of property]
IN WITNESS etc.
[Signature of declarants]
33
Declaration of trust by way of supplemental to a
conveyance whereby property has been purchased in
the name of the trustee for the purchaser who
provides purchase money
THIS  TRUST DEED is made the…….  day of………………. by (trustees) of
(address, etc.)
(1)  This declaration is supplemental to a conveyance dated the……………. day
of……………….  and made between (parties) whereby the freehold property known
as (description of property) registered at…………..  on……………. as Deed no…….
was transferred to the said (trustee) in consideration of the sum of Rs………
therein stated to have been paid by the said (trustee) to the said (Vendor).
(2) The said sum of Rs……….. was provided by (Purchaser) of (address, etc.)
and the said freehold property was transferred to the said (trustee) as trustee
for the said (Purchaser) as the said (trustee) hereby acknowledges.
NOW THIS DEED WITNESSETH that the said (trustee) hereby declares that
he holds the said freehold property in trust for the said (purchaser) and herebyCh. 54] TRUSTS?FORMS 257
agrees that he will at the request and cost of the said (purchaser) transfer the
said freehold property to such person or persons at such time or times and in
such manner or otherwise deal with the same as the said (purchaser) shall direct
or appoint and execute and do all such documents acts and things as may be
necessary to procure the appropriate registration to give effect to any such
transfer or dealing or if so required to enable the interest of the said (purchaser)
to be protected.
2. It is hereby declared that the trustee is never intended to act as a benamdar
for the purchaser herein, nor the purchase is intended for the benefit of the
benamdar, but the trustee holds the said property in trust for the purchaser who
is hereby and hereunder made known and declared to the rest of the world.
THE SCHEDULE ABOVE REFERRED TO :
IN WITNESS etc.
(Signature of trustee)
Note : The above declaration is necessary to avoid the transaction being held
benami see, Author?s commentaries on Benami Transactions (Prohibition)
Act, 1988.
34
Declaration of trust by husband and wife in respect of
immovable property purchased out of joint
contribution and subsequently mortgaged
THIS DECLARATION OF TRUST is made the……… day of……………….. BE-
TWEEN [husband] of [address, etc.] (hereinafter called the husband) of the One
Part and [wife] of [address] aforesaid his wife (hereinafter called the wife) of the
Other Part.
WHEREAS:
(1)  Under and by virtue of a conveyance of even date herewith but executed
before this deed and made between [vendor] of the one part and the husband
and the wife of the other part and in consideration of the payment by the husband
and the wife to the said [vendor] of the sum of Rs……… the freehold house and
property known as……….  and situate at………..  (hereinafter called the property)
more fully described in the Schedule hereto and hereinafter referred to as ?the
said property? was conveyed to the husband and the wife free from encum-
brances.
(2) By a legal charge of even date herewith but also executed before this deed
the husband and the wife charged the property with the payment to the………….
Building Society as charges of the sum of Rs……….. borrowed by the husband
and the wife from the said building society with interest thereon at the rate and
by the instalments and subject to the terms and conditions therein set forth.
(3) The purchase money paid to the said [vendor] in consideration of the said
G : CDD (Vol. 7) ? 17258 CONVEYANCING, DRAFTING & DEEDS [Ch. 54
conveyance was provided as to Rs………..  by the husband and as to Rs…….. by
the wife and as to the balance being Rs……..  by the husband and the wife.
(4)  It has been agreed between the husband and the wife that they shall hold
the property jointly as trustees for sale with power to postpone sale and that they
shall hold the proceeds of such sale upon trust for themselves as tenants-in-
common in the shares in which they have each contributed to the purchase of
the said property and to the repayments of the instalments due under the said
charge and to such extension and improvements to the said property (if any)
as may from time to time be jointly agreed between the husband and the wife
in so far as such extensions and improvement involve the expenditure of money.
NOW THIS DEED made in pursuance of the said agreement WITNESSETH as
follows:
1. The husband and the wife shall hold the said property on trust to sell the
same with power to postpone sale and shall hold the net proceeds of sale (after
deducting thereout the balance of any money due under the said legal charge)
on trust for themselves as tenants-in-common in the proportions hereinafter
mentioned.
2.  The husband shall be entitled to such share of the total of the net proceeds
of sale as shall be calculated by multiplying such total by the total of the said
sum of Rs……….  paid by the husband together with all such further sums paid
by the husband in respect of the said property whether by way of payment of
instalments due under the said legal charge or for any extensions and
improvements to the said property which the husband and the wife may from
time to time jointly agree and dividing the product of such multiplication by the
total of all sums paid by the husband and the wife with the agreement of one
another in respect of the said property other than the said sum of Rs…….  paid
by the husband and the wife.
3. The wife shall be entitled to such share of the total of the net proceeds of
sale as shall be calculated by multiplying such total by the total of the said sum
of Rs……….  paid by the wife together with all such further sums paid by the wife
in respect of the said property whether by way of payment of instalments due
under the said legal charge or for any extensions and improvements to the said
property which the husband and the wife may from time t