Deed of Release by mother as tenant for life in favour of her son as a remainder man in respect of encumbrance discharged by her upon the settled property?out of her own money
THIS RELEASE is made on _______ day of ________
BETWEEN
_________________ [life tenant] of [address, etc.] (hereinafter called the mother) of the One Part
AND
___________________ [remainderman] of [address, etc.] (hereinafter called the son) of the Other Part.
WHEREAS:
- Under the will dated the ________ day of _______ of [testator] late of [address] the property hereinafter described was devised to the mother for her life and after her death to the son subject to any charges subsisting thereon at the time of the death of the said [testator].
- The said [testator] died on the ______ day of ____ being at his death the estate owner in respect of the property________ [describe property] more fully described in the Schedule hereto subject to the mortgage hereinafter mentioned but otherwise free from encumbrances.
- The said will of the said [testator] was proved by [executors] the executors thereby appointed on the ______ day of _____ 20___ in the ______ Court at ______.
- By a mortgage dated the _____ day of _____ 20___ and made between the testator of the One Part and [mortgagee] of the Other Part and registered with the Sub-Registrar at ______ and entered in ____________ for the year ________ the said property was charged by way of legal mortgage with the payment to the said [mortgagee] of the sum of Rs. ______ with interest thereon as therein mentioned.
- By a receipt dated the _______ day of ____ 20_____ and endorsed on the said mortgage the said [mortgagee] acknowledged the receipt of the sum of Rs.______ representing the principal money secured by the said mortgage together with all interest and costs and the payment was expressed to be made by the said [executors] out of funds applicable to the discharge of the said mortgage.
- The said sum of Rs.________ was in fact paid by the mother out of monies to which she was absolutely entitled and the mother is desirous of releasing the son from any liability to refund the said sum or any part thereof to her or her estate.
NOW THIS DEED WITNESSETH that in consideration of the natural love of the said mother for the son and of the premises the mother hereby releases unto the son all that her right to receive the said sum of Rs.________ or any part thereof paid by her in discharge of the recited mortgage of _______ and for ever discharges the son his successors in title and assigns of and from all actions proceedings claims and demands whatsoever which the mother has or can have against the son for or in respect of the said sum of Rs._______.
THE SCHEDULE ABOVE REFERRED TO:
[Description of Property]
IN WITNESS etc.
[Signature of the tenant for life]
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