Deed of cancellation of exchange and reconveyance

 

Date

___________________________________________________________________________

 (hereinafter called the first party)

And

___________________________________________________________________________ (hereinafter called the second party)

 

WHEREAS by a deed of exchange dated............ day of............ 20..... executed between the parties the said C.D. had conveyed and transferred unto the said A.B. a house more particularly described in the Second Schedule to the said deed of exchange;

 AND WHEREAS E.F. and G.H. have claimed a half share in the said house and have served upon the said A.B. a notice dated............ to that effect through their Advocate;

AND WHEREAS on a reference by the said A.B. to the said C.D., the latter has in all propriety admitted his inadvertence and has agreed to have the said deed of exchange cancelled and to restore and recovery the properties mutually exchanged by the said deed of exchange.

NOW THEREFORE THIS DEED WITNESSES as follows:

1.  In pursuance of the said agreement the deed of exchange dated the............ day of............ 20..... executed between the parties hereto is hereby cancelled.

 2. In consideration of the agreement for restoration of the properties exchanged by the said deed of exchange dated the day of............ 20......each party hereto restores and reconveys to the other the property conveyed by the other by the said deed TO HOLD the same unto the other in the same way as it was held immediately before the date of the said exchange.

3.  Each party hereto covenants with the other that the property so reconveyed has not been encumbered or otherwise burdened in any manner whatsoever on or before the date hereof.

4.  The said C.D. shall exclusively bear all the costs of and incidental to the execution of this deed and shall reimburse the said A.B. of all the costs incurred by him of and incidental to the said deed of exchange.

IN WITNESS WHEREOF, the parties hereto have hereunto set and subscribed their respective hand and seal the day and year first hereinabove written.

 

[Signatures of both the parties]