Assignment of various reversionary interests under the same will, the parcels being shortened and simplified by the use of definitions
THIS DEED OF ASSIGNMENT is made the ________ day of ________.
BETWEEN
________________________________________________ (insert the name, address etc. of “the Vendor”) of the one part,
and
________________________________________________( insert the name, address etc. of “the Purchaser”)of the other part.
WHEREAS the vendor is absolutely entitled free from all incumbrances to the reversionary interests hereinafter expressed to be hereby conveyed and has agreed with the purchaser for the sale thereof to him at the price of Rs._________.
NOW THIS DEED made in pursuance of the said agreement and in consideration of the sum of Rs. ______ paid by the purchaser to the vendor (the receipt whereof the vendor acknowledges) WITNESSETH as follows:
- In this deed the following expressions have the following meanings namely:
“The testator” means [name] late of [address, etc.] (hereinafter called the testator) who died on the ______ day of ______ and whose will dated the ______ day of ______ was on the _______ day of ______ proved in the ________ court.
“The settled legacy” means the investments specified in the first part of the schedule hereto and the investments and property at any time hereafter representing the same or any part thereof and all other if any the investments and property now or at any time hereafter constituting or representing the legacy of Rs. ______ by the said will of the testator settled in the first instance on [vendor’s father] (the father of the vendor) for his life.
“The residuary estate” means the investments specified in the second part of the schedule hereto and the investments and property at any time hereafter representing the same or any part thereof and all other if any the investments and property now or at any time hereafter constituting or representing the residuary estate of the testator or any part hereof.
- The vendor as beneficial owner hereby conveys unto the purchaser:
- All that the one equal [third] part of the settled legacy to which the vendor under the said will of the testator and a deed of [release] by the said [vendor’s father] dated ______ is now entitled in reversion expectant on the death of the said [vendor’s father];
- All that the one equal [fourth] part or share to which under the said will of the testator the vendor is entitled in reversion expectant on the death of the said [vendor’s father] of and in that moiety of the residuary estate which is by the said will of the testator settled in the first instance on the said [vendor’s father] for his life and upon his death on the vendor; ?
- All that the one equal [fourth] part or share to which under the said will of the testator the vendor is entitled in reversion expectant on the death of the [vendor’s father] having vested interests under the said will of the testator of and in that moiety of the residuary estate which is by the said will of the testator settled in the first instance on the said [vendor’s father] for his life and after his death upon the vendor.
TO HOLD the same unto the purchaser subject to the life interests of the said [vendor’s father] under the said will.
IN WITNESS, etc.
SCHEDULE
Particulars of the investments held by or standing in the names of [trustees] the present trustees of the will of the above-named testator.
PART I? Investment representing the Rs __________ settled in the first instance on [vendor’s father] for his life and upon his death to the vendor. [Particulars]
PART II? Investments representing the residuary estate.
[Particulars]
[Signatures of vendor and purchaser]
