Deed of Release of a reversionary life interest from a reversionary annuity
THIS RELEASE is made on ________ day of _______,
BETWEEN
___________ [annuitant] of [address, etc.] [hereinafter called the releasor] of the One Part
AND
__________ [tenant for life in reversion] of [address, etc.] (hereinafter called the reversioner) of the Other Part.
WHEREAS:
- By a deed (hereinafter called the annuity deed) dated the ______ day of ____ 20_____ and made between (settlor) of the first part the reversioner of the second part and the releasor of the third part the reversioner granted unto the releasor an annual sum or yearly rentcharge of Rs.________ to commence from the day of the death of the said [settlor] and to be paid thenceforth during the residue of the life of the reversioner if then living at the times and in manner therein mentioned and to be issuing out of and charged upon all the lands for the time being subject to the limitations of a resettlement dated the ____ day of ________ therein mentioned under which the reversioner was tenant for life in remainder expectant on the death of the said [settlor] of the property subject thereto and upon all the annual income of the investments for the time being held on the trusts of the same resettlement to which the reversioner was entitled in reversion expectant as aforesaid during his life.
- The investments specified in the schedule hereto (hereinafter called the specified investments) are with other investments now held on the trusts of the said resettlement and accordingly the reversioner has a reversionary life interest therein and the releasor being satisfied that the lands and investments other than the specified investments are sufficient security for the said annual sum of Rs._______ has agreed at the request of the reversioner to execute such release as is hereinafter contained.
NOW THIS DEED WITNESSETH as follows:
- In pursuance of the said agreement and in consideration of the premises the releasor hereby releases unto the reversioner all that the reversionary life interest to which the reversioner is entitled as aforesaid in the specified investments which are now held on the trusts of the said resettlement as aforesaid to the intent that the specified investments and the income therefrom including any income accrued and dividends declared but remaining unpaid and any rights attaching to the specified investments may henceforth be discharged from the said annual sum of Rs._______ secured by the annuity deed and from all claims and demands of the releasor in respect thereof or otherwise howsoever under the annuity deed.
- Provided always and it is hereby declared that nothing herein contained shall prejudice or affect the security of the releasor under the annuity deed upon the lands monies and investments and premises charged by such annuity deed other than the specified investments and the said income therefrom and the said dividends and rights attaching thereto.
THE SCHEDULE ABOVE REFERRED TO:
[Particulars of investments released from the annuity]
IN WITNESS etc.
[Signatures of both parties]
