format for release deed of Regd.mortgage

This query is : Resolved 
 

(Querist)
04 June 2008

Thanks to M/s Sportas.
kindly sent me the format as the bank
has specifically asked for registration
of the release deed with the registrar
where the mortgage was registered earlier.
thanks


SROTAS -Global Legal Services (Expert)
04 June 2008

I am herewith sending the basic model of cancellation deed. This is the procedure. please fill up the blanks.

DEED OF CANCELLATION
This DEED OF CANCELLATION is executed at on this the day of 2008 by s/o
residing at

herein after referred to as the FIRST PART of the one part which expression shall mean and include his heirs, successors, legal representatives and assigns etc.,.

TO AND IN FAVOUR OF

s/o residing at
hereinafter referred to as party of the SECOND PART which term shall mean and include his heirs, successors, legal representatives and assigns.

WHEREAS the Party of the SECOND PART has executed a Mortgage Deed dated in favour of the Party of the FIRST PART mortgaging the property more fully described in the Schedule hereunder for a sum of Rs. /- and the said Mortgage deed was registered as Document No. of of Book 1 Volume filed at pages to on the file of the Sub Registrar, (hereinafter referred as the “Principal Deed”) .

WHEREAS even though the Principal Deed is executed in favour of the First Part, the possession of the property more fully described in the Schedule hereunder remains exclusively with the Second Part alone, after payment of the mortgage amount due by the Second Part to the First Part.
NOW THIS INDENTURE OF CANCELLATION WITNESSETH AS FOLLOWS:
THAT the Party of the FIRST PART AND SECOND PART hereby cancel the PRINCIPAL DEED dated and registered as Document No. of of Book 1 volume filed at pages to on file of the Sub Registrar .
SCHEDULE
In witness whereof the PARTY OF THE FIRST PART and SECOND PART have signed on the day, month and year first above written in the presence of. -

PARTY OF THE FIRST PART

PARTY OF THE SECONDPART

WITNESSES
1.


2.






Guest (Expert)
05 June 2008

Thank you Mr. SROTAS, if possible you can offer such documents to share files, for members use.



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