SIMPLE MORTGAGE-DEED

SIMPLE MORTGAGE-DEED

This deed of Simple Mortgage is executed on ________ day of ______________ month of _____________ year by Sri./Smt.__________________________, S/o./ W/o.____________________________, occupation____________________,

and                           aged                            __________                           years,                           residing

at_________________________________herein after called the MORTGAGOR. 

In favour of

Sri./Smt.__________________________S/o./W/o._________________________,

occupation____________________,      aged         __________       years,        residing

at_______________

Herein referred to as the MORTGAGEE. 

Whereas, the term Mortgagor and Mortgagee, unless repugnant to the context shall mean and include their representatives heirs, successors, executors, administrators, trustees, legal representatives and assigns.

Whereas, the Mortgagor herein, is the sole and absolute owner of immovable property  bearing No.___________ known as _____________________ situated at morefully described in the schedule hereunder written and herein after called the scheduled property.

Whereas, the Mortgagor is the absolute owner, having acquired the property, by

____________________  and since then Mortgagor has been in possession and enjoyment of the schedule property and paying taxes and levies thereon, as sole and absolute owner thereof.

Whereas Mortgagor being in need of money for the purpose of __________________. Mortgagor requested the Mortgagee to lend him a sum of Rs.___________ (Rs.________________________only) which the Mortgagee has agreed to do on the Mortgagor executing these presents with a view to secure the repayment thereof with interest as herein after provided.

NOW  THIS  DEED  WITNESSETH  that  pursuant  to  the  said  agreement  and  in

consideration                 of                 the                  sum                  of                  Rs._____________

(Rupees._________________only) lent and advanced by the Mortgagee to the Mortgagor on the execution of these presents (receipt whereof the Mortgagor hereby admit). He the Mortgagor hereby covenants with the Mortgagee that he the Mortgagor will pay to the Mortgagee the sum of Rs.___________

(Rupees._________________only) on the day of ___________ (herein after referred to as the ‘due date’) with interest thereon in the meanwhile and until repayment of the said sum in full, at the rate of _________ on the _________day of ______________ and each subsequent installment on the ___________ day of each succeeding month until the said principle sum of Rs.__________

(Rupees______________________only) repaid in full, and the Mortgagor further covenants with the Mortgagee that in the event of the Mortgagor failing to pay any installment of interest, he will be liable to interest on the said installment in default at the same rate as aforesaid from the date of default until payment such installment as and by way of compound interest. Without prejudice to the right of the Mortgagee to take any action on default as herein under provided, and it is agreed and declared that in the event of Mortgagor committing default in payment of any installment of interest or committing breach of any other term of this deed, the whole amount of principal then due with interest thereon will at the option of the Mortgagee become payable forthwith as if the said date had expired.

And this deed further witnesseth that in consideration aforesaid, the Mortgagor hereby mortgage his said scheduled property situated at ___________ and described in the schedule hereunder written as a security for repayment of the said sum with interest and all other moneys due and payable hereunder with a condition that on the Mortgagor repaying the said principal sum of Rs._________

with all interest and other moneys due to the Mortgagee (hereinafter referred to as the Mortgage amount) the Mortgagee will redeem the said scheduled property from the mortgage security and shall if so required by the Mortgagor execute a deed of Release but at the costs of the Mortgagor.

And it is further agreed and declared by the Mortgagor that in the event of the Mortgagor failing to pay the said principal sum with all interest and other moneys when the same shall become due and payable under these presents, the Mortgagee will become entitled to have the said scheduled property sold through any competent court and to realise and receive the said mortgage amount out of the net sale proceeds of the said scheduled property.

And it is further agreed and declared by the Mortgagor that he shall also be liable to pay and shall pay all the costs, charges and expenses that the Mortgagee will incur for the protection of the mortgage security and or for the realisation of the mortgage amount and the same shall be deemed to form part of the mortgage amount and the security therefor as aforesaid.

And it is further agreed that during the pendency of the security hereby created and until repayment of the mortgage amount the Mortgagor will get insured and keep insured the buildings and structures standing on the said land against loss and damages due to fire or any other accident in the sum of at least Rs.________ with some Insurance Company of repute and pay all premium n the insurance policy as and when it becomes due and payable in respect thereof to such company and shall hand over the policy to the Mortgagee duly endorsed in his name as assignee and in the event of the Mortgagor failing to do so or to pay the premium, the

Mortgagee will be entitled to insure the said buildings and structures and/or to pay the premium thereon and the amount paid by the Mortgagee in respect thereof will be deemed to form part of the mortgage amount.

And it is further agreed that in the event of the said scheduled property being destroyed or damaged by fire or any accident as aforesaid. The Mortgagee will be entitled to receive the insurance claim under such policy to the exclusion of the Mortgagor and to appropriate the same first towards all arrears of interest and then the principal amount or as any part thereof as may be sufficient to pay the mortgage amount due and if any surplus remains the same only will become payable to Mortgagor.

SCHEDULE

(Mortgaged under this deed)

All the piece and parcel of immovable property  bearing No.____________

Measuring _______________

Bounded by:-

On the East                     :

On the West                   :

On the South                 :

On the North                 :

Market value of the property mortgaged under this deed is Rs._____________ (Rupees____________________________________only).

The Stamp duty is paid as per Article 34(b) of the Schedule to the Karnataka Stamp Act, 1957.

IN WITNESS WHEREOF the Mortgagor has put his hand the day and year first hereunder written.

WITNESSES:

1.                                                                                                 MORTGAGOR     

2.                                                                                                  MORTGAGEE

WILL Format

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WILL

I        Sri._____________   S/o.________________   residing   at__________aged about ________years _________ by religion, occupation _______________ do make this my last will and testament.

1.  I have not made any will or other testamentary document, but if any made, I hereby revoke all previous wills and codicils, if any and declare this to be my last will and testament.

2.   I  appoint                (1) Sri.______________S/o.____________

residing at_____________________ aged about ________ years _________ by religion, occupation ___________

(2)    Sri._________________ S/o.__________ residing at__________________aged about________years_________ by religion, occupation _______________ (3) Sri.___________ S/o._____________ residing at____________________aged about _______ years _________ by religion, occupation _______________ as the executor of this will and trustees of my estate.

3.   My family consists of _____________________

4.   My property consists of

(a)

(b)

(c) etc.

5.  I bequeath all my property in whatever form existing at the time of my death to the said executor and trustees to hold the same on trust for the benefit of my wife Smt._____________________ for her life time and till her death as herein after provided.

6.  My executors and trustees shall, after spending the necessary money for the management of the said property out of the income thereof, pay the net income to my wife and the same will belong to her absolutely without liability to account for the same. My executor and trustees will also spend out of the corpus of estate such amounts as may be required by my wife for medical expenses or for pilgrimage. But my executor and trustees will not be entitled to sell my immovable property above mentioned or mortgage the same.

7.  On the death of my and if she predeceases me then on my death all my estate then existing whether mentioned in this will or not, will belongs to my children,

(a)   ____________________

(b)  ____________________

(c)   ____________________ absolutely in equal shares and the trustees for the time being of the said estate under this will shall transfer the same among said childr en by executing proper document or documents.

8.  Provided that, if at the time of death of my wife or myself as the case may be any of the said children is a minor, the trustees shall hold the said property on trust until the youngest attains the age of majority and till then the net income of the said property will given or spend for maintenance and education of the said children.

9.  My executor and trustees shall obtain probate of this will from a competent court, if required in law and shall pay all the probate duty and other expenses required for such probate and also pay as first charge all my other liabilities by way of taxes or otherwise howsoever.

10.  I have made this will out of my free will and when I am in sound health and in good understanding and in witness thereof I have put my signature hereunder in the presence of witnesses on this _________ day of _____________ month of ______________ year.

Signed by the within named testator } Sri. _________________________ } opposite in the presence of witnesses, } who in presence and at his request and } in the presence of each other have put }

TESTATOR

there signature as witnesses hereunder.}

1.Sri. __________________________

Full Address: _________________

. _________________

2. Sri. __________________________

Full Address: _________________

. _________________

SALE DEED

SALE DEED

This  deed  of  sale  is  executed  on  ________  day  of  __________  month  of

_____________ year by Sri./Smt.___________________, S/o./ W/o.________, occupation __________,

and aged __________ years, residing at____________________. hereinafter called the "SELLER".

In favour of

Sri./Smt.________________S/o./W/o.________,

occupation____________, aged ___years, residing at____________________________.hereinafter called the "PURCHASER".

Whereas, the term SELLER and PURCHASER, unless repugnant to the context shall mean and include there representatives heirs, successors, executors, administrators, trustees, legal representatives and assigns.

Whereas, the SELLER herein, is the sole and absolute owner of immovable property  bearing No.___________ known as _____________________ situated at ________________ and morefully described in the schedule hereunder written and hereinafter called the schedule property.

Whereas, the SELLER  is _____________ enjoyment of the schedule and absolute owner thereof. The absolute owner, having acquired the property, by  and since then SELLER has been in possession and property and paying taxes and levies thereon, as sole

Whereas the SELLER herein being desirous of selling the Schedule property due to the reason  ____________

Whereas the PURCHASER has agreed to purchase the schedule property in terms an oral / written agreement for a total sale consideration of Rs.____________

(Rupees________________________________________only) and the purchaser in terms of aforesaid oral / written agreement agreed to pay the entire sale consideration at the time of execution of the sale deed.

Whereas in consideration of the purchaser having paid the entire sale consideration Rs.____________Rupees_____________________________only)

as aforesaid the receipt of which has been duly acknowledged by the SELLER, who acquits the purchaser from making any further payment towards sale consideration, the SELLER, as beneficial owner, DOES HEREBY GRANT, CONVEY, TRANSFER, BY WAY SALE AND ASSIGN unto and in favour of the purchaser of the schedule property and every part thereof together with the right, title and interest therein, with all the benefits advantages, concessions, licenses, hereditaments, easementary rights, equities, claims, demands, privileges, appurtenances or any other things hidden in the earth belonging to or appurtenant thereto etc., attached to belonging to and reputed to belong to the Schedule property TO HOLD, TO POSSESS AND TO ENJOY the same forever free from all encumbrances, charges, all kinds of mortgage, agreement to sell, court litigation's and any other statutory charges.

Whereas the SELLER hereby declares and covenants with the purchaser that he is the sole and absolute owner of the Schedule property and has a clear, legally valid and marketable title thereto and therefore, an absolute right to sell and convey the same to the purchaser in terms of this deed. The SELLER further declares that he has not done any acts, deeds or things so as to curtail, restrict or prejudice his right to convey or prevent him from selling the Schedule property in terms of this deed.

Whereas the PURCHASER having now paid the entire sale consideration as detailed below, has requested the SELLER to execute the Sale deed in his favour and the SELLER has duly agreed thereto.

NOW THEREFORE THIS DEED OF ABSOLUTE SALE WITNESSETH AS HEREUNDER:

1.   The  SELLER  hereby  confirms  that  the  PURCHASER  has  paid  the  entire  sale

consideration as under:

 a.    Amount paid by Cheque No.___________

or in Cash on dated___________ Rs.______________

b.  Remaining amount paid by Cheque or D.D. or Pay order before Sub-Registrar at the time of Registration of this Sale deed Rs.______________     

     

Total                Rs.______________(Rupees_________________________only)

Whereas the SELLER hereby further declares that the schedule property is free from all encumbrances, lien, charge, mortgage, lease, court or other attachments, lis-pendens, acquisition and requisition proceedings, minor's claims or any other adverse  proceedings or   claims   from    third parties which  are   in   any    way detrimental to the interest of the PURCHASER

Whereas the SELLER hereby assures the PURCHASER that all taxes and levies on the Schedule property have been paid up to date and arrears if any, till the date of sale deed shall be duly paid by him and future taxes in respect of the Schedule property shall be paid by the PURCHASER.

Whereas the SELLER hereby declares and covenants with the PURCHASER that he shall do or cause to be done all acts, deeds and things which are legally or reasonably required to be done at the instance of the PURCHASER for morefully and perfectly assuring the right, title and interest of the PURCHASER in the schedule property herein conveyed and the PURCHASER shall bear such expenses.

Whereas  the   SELLER  hereby  indemnifies  and   keeps  the  PURCHASER or   his

successors-in-title fully indemnified against any loss or liability cost or claims, action or proceedings, if any should arise, at any time in future against him owing

to any defect in or for want of clear and marketable title or due to any defect, violation or non-compliance of any of the declarations or covenants herein.

Whereas the PURCHASER shall be the sole and absolute owner of the schedule property with attendant rights of ownership, possession, enjoyment and shall be entitled to deal with and dispose of the Schedule property as deems fit witho ut any interference, obstruction or hindrance from the SELLER or any one claiming under, through or in trust for him.

Whereas the SELLER has this day delivered the vacant possession of the schedule property to the PURCHASER along with all the available original title deeds and documents which are in his possession pertaining to or relating to the schedule property.

SCHEDULE OF THE PROPERTY

(Conveyed under this deed)

All the piece and parcel of immovable property  bearing No.____________

Measuring _______________

Bounded by:-

On the East

On the West

On the South

On the North 

Market value of the property conveyed under this deed is Rs._____________ (Rupees________________________only).

The Stamp duty is paid on the market value as computed above.

IN WITNESS WHEREOF the parties herein have affixed their respective signatures to this deed at _______________ on this ______________ day of

______________ year in presence of the witness:

WITNESSES:
1.	SELLER
2.	PURCHASER