Pravin Arora mortgaged his property in favor of Juhi Chawla in consideration of loan taken by Pravin Arora. Now the loan together with interest has been paid. Prepare a deed of redemption or re-conveyance of mortgaged pr

CS Professional · Drafting, Appearances and Pleadings · PYQS · June 2017
Pravin Arora mortgaged his property in favor of Juhi Chawla in consideration of loan taken by Pravin Arora. Now the loan together with interest has been paid. Prepare a deed of redemption or re-conveyance of mortgaged property in favor of the mortgagor.

Answer & Explanation:

Deed of Redemption or Re-conveyance of Mortgaged Property by the Mortgagee in favour of the Mortgagor This deed of redemption is made at ............ on this the ............ day of ............ between Mr. Pravin Arora , son of Mr. Saket Aroara, aged about 50 years, residing at ............ hereinafter referred as 'MORTGAGOR' (which expression shall, unless it is repugnant to the context mean and include his legal representatives and executors.) And Ms. Juhi Chawla , Wife of Mr. Jay Mehta, aged about 43 years, residing at Worli, Mumbai, Maharashtra, hereinafter referred to as 'MORTGAGEE' (which expression shall, unless it is repugnant to the context mean and include his legal representatives and executors.) WHEREAS, the property, more fully described in the schedule I hereto; was mortgaged by the 'MORTGAGOR' to the 'MORTGAGEE' as security for the repayment of a debt amounting to ₹............ under a deed of mortgage dated ............ registered as document number: in the office of the Sub-Registrar ............ The 'MORTGAGEE' has received full and final repayment of the loan amount of ₹............ Borrowed by the 'MORTGAGOR' under the aforementioned Deed of Mortgage dated ............ vide cheque number/Cash ............ dated ............ drawn on the ............ in favour of the 'MORTGAGEE'. NOW THIS DEED WITNESSETH THAT in consideration of the payment of ₹............ to the Mortgagee by the Mortgagor paid in full of the principal sum and interest due and owing to the mortgagee on the security of the said Indenture of the Mortgage (the receipt whereof the Mortgagee doth hereby admit and acknowledge and of and from the same doth hereby acquit, release and forever discharge the Mortgagor), the Mortgagee doth hereby retransfer and reconvey to the Mortgagor all that the said mortgage property, more particularly described in the Schedule I hereto, to have and hold the same unto the Mortgagor absolutely and free from encumbrances of any kind whatsoever and discharged from all claims, demands and rights of the Mortgagee under the said mortgage and the Mortgagee hereby covenant with the Mortgagor that he has not done or knowing or willingly suffered or been party or privy to any act, deed or thing whereby or by reason of means whereof the said mortgaged property hereby reconveyed or retransferred or intended so to be or any of them or any part thereof may or shall be impeached, affected or encumbered in title, estate or otherwise howsoever. AND THE MORTGAGEE HEREBY DECLARES AND CONFIRMS that title deeds he has delivered the title deeds in respect of the mortgaged property and the Deed of Mortgage to the Mortgagor. SCHEDULE I Property Details IN WITNESS WHEREOF, the MORTGAGOR and the MORTGAGEE has hereto set their hands to this deed of redemption on the day, month and year hereinabove written. WITNESSES: Signature of the Mortgagee Signature of the Mortgagor

Topics: Property Law

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