GIFT DEED OF PROPERTY (FOR PARTICULAR PURPOSE)
THIS DEED OF GIFT is made
BETWEEN
Sh._________ s/o Sh.________ r/o __________ (hereinafter referred to as "the donor")
AND
Sh.______ d/o Sh. _____and w/o Sh _______r/o ______ (hereinafter referred to as "the donee")
1. WHEREAS the DONEE intends to start a school at (Name of Place)_______ for the education of children
2. The DONOR is desirous of donating the land fully mentioned and described in the schedule hereto to be used as a site for said school.
NOW THIS DEED WITNESSES AS FOLLOWS:
1. The DONOR doeth hereby and hereunder freely and voluntarily grant, convey, transfer, give, assign and assure unto and to the use of DONEE and his successor to be used solely and exclusively for the purpose of a site for construction and accommodation of the proposed children school
2. The donee will HAVE AND HOLD the same land so long as the same shall be used and occupied as a site and/or building of the school
3. THE DONEE accepts the gift of the said property hereunder made solely and exclusively for the purpose hereinbefore indicated subject to the condition hereunder provided.
4. That it is expressly agreed and understood by the between the parties that this gift of land will stand ipso facto revoked in the event the land hereunder given is not used for the purpose of the intended school for which the same is given within a period of three years from the date of this deed. In such event the land with all buildings and structures, if any erected thereon, shall revert to and revest in the DONOR or his heirs, and shall form part of his former estate as if this deed of gift was never executed nor intended.
5. And it is further agreed by and between the parties that in case the land is acquired by the Government, the DONEE or his successors, including any person or persons managing the school, shall invest the compensation money to be awarded in purchase of another land or building to be used solely and exclusively for the school unless otherwise directed by any court of competent jurisdiction.
6. The estimated value of the property is Rs._________
IN WITNESS WHERE OF, the donor has executed the deed of gift and delivered the same to the donee who has also executed the same in token of acceptance.
Place :________
Date :________
(The schedule herein referred to)
WITNESS:
1. THE DONOR
2. THE DONEE
