Deed of Release by the Executor of a Mortgagee in favour of the Mortgagor in respect of Simple Mortgage of Immovable Property
THIS INDENTURE made on ______________
BETWEEN
_________________ s/o __________ r/o ____________ (Executor) of the One Part
AND
_________________ s/o __________ r/o ____________ (Mortgagor) of the Other Part.
WHEREAS by an Indenture of Simple Mortgage dated _________ and made between the Mortgagor of the One Part and ___________ therein described of the Other Part and registered before __________ etc. the Mortgagor in consideration of the sum of Rs. ___________ lent and advanced to him by the said ___________ covenanted with him to pay to him the said sum of Rs. _______ with interest thereon at the rate of _____ % p.a until repayment thereof in full and also all costs, charges and expenses which the said ___________ might incur in enforcing the said Indenture of Simple Mortgage and in realising the principal, interest and costs thereby secured and as security for the due fulfilment of the covenants and provisions therein contained, mortgaged and charged the hereditaments in the Schedule thereunder and hereunder written.
AND WHEREAS the said ___________ (other party) died on ______ having prior to his death made and published a Will dated ________ whereby he gave, devised and bequeathed all his properties, moveable and immovable, whatsoever and wheresoever situate, unto the Executor herein absolutely and appointed him as his sole executor.
AND WHEREAS the said Will of the said deceased was duly proved and Probate thereof granted to the Executor on _________ by (court).
AND WHEREAS on account of the said Simple Mortgage there is now due and owing on the security thereof the sum of Rs _______ for balance of principal and interest up to the date of these presents.
AND WHEREAS the Mortgagor is desirous of paying off the said sum of Rs. ________ in full discharge of the mortgage debt secured by the said Indenture of Simple Mortgage and of having a release of the said hereditaments in the manner hereinafter expressed.
NOW THIS INDENTURE WITNESSETH that in consideration of the said sum of Rs. _________ now paid by the Mortgagor to the Executor in full discharge and satisfaction of all monies due under the said Mortgage (the receipt whereof the Executor hereby admits and acknowledges) he the Executor as such executor and sole legatee of the said deceased hereby releases and discharges the Mortgagor and the said hereditaments from all monies secured or intended to be secured by the said Mortgage and from all claims and demands whatsoever for or in respect of the same and every part thereof.
AND the Mortgagee hereby covenants with the Mortgagor that he the Mortgagee has not at any time heretofore done, executed, or knowingly suffered or been party or privy to any act, deed or thing whereby the said hereditaments or any part thereof are, is or may be affected or encumbered in any way or whereby the Mortgagee is prevented from realising and discharging the same in the manner aforesaid.
THE SCHEDULE ABOVE REFERRED TO:
(Description of Property)
IN WITNESS WHEREOF etc.
Signatures of the parties
