MORTGAGE BY CONDITIONAL SALE

MORTGAGE BY CONDITIONAL SALE

MORTGAGE BY CONDITIONAL SALE

THIS DEED OF SALE is made at ……………… this …………… day of ……………, 2000, between A, son of
……………… resident of …………………………. hereinafter called the “Vendor’ of the ONE PART and B, son of
……………… resident of ……………… hereinafter called the “Purchaser” of the OTHER PART.

WHEREAS the Vendor is absolutely seized and possessed of or otherwise well and sufficiently entitled to
the land and premises bearing Plot No. ……….. situated at, …………………………………. within the
Registration District of ……………… and more particularly described in the Schedule hereunder written.

AND WHEREAS the Vendor is in need of Rs. ……………… for his business purposes and requested the
purchaser to lend him the said sum, which the purchaser has agreed to do on the Vendor executing these
presents.

NOW THIS DEED WITNESSETH THAT in pursuance of the agreement and in consideration of the sum
of Rs. ……………… paid by the purchaser to the Vendor (the receipt of which the Vendor hereby
acknowledges) the Vendor hereby transfers and delivers vacant possession of all that the land and
premises more particularly described in the Schedule hereunder written,

together with all the rights and
privileges appurtenant thereto unto the said Purchaser to hold the same for ever subject to the condition
that if and when the Vendor repays the said sum of Rs. ……………… with interest thereon at the rate of
……………. % per annum compoundable annually, to the Purchaser on the ……………… day of ……………… 19
…… hereinafter referred to as the due date, the grant and transfer of the said property as hereinbefore
provided shall become void and in that event

the purchaser shall reconvey the said house and premises
free from all encumbrances and redeliver vacant possession to the vendor together with the documents of
title relating to the said house and premises and this deed and in case of default in payment of the said
amount with interest aforesaid on the said date, the transfer hereby made shall become an absolute sale in
favour of the Purchaser.

(2) The vendor hereby covenants with the Purchaser that he is the absolute owner of the said house and
premises and that the same is free from any encumbrance, charge or lien whatsoever.

(3) The purchaser shall keep the said house in tenantable condition and he shall bear the expenses for
repairs and maintenance of the said house. The mortgagor shall also defray all taxes, assessments, land
revenue and other charges payable in respect of the said house and premises to the State of ……………….
Municipal corporation of ………………, or any other public or local authority. All the expenses incurred and
payments made by the purchaser will be added to the said money and shall be recoverable with interest by
the purchaser from the vendor.

(4) The Purchaser covenants with the vendor that he shall not let out the said house to any person or
persons and he shall keep the said house in his own possession.

(5) If the vendor makes default in paying the said money with interest on the due date as aforesaid, the
purchaser shall have the right to foreclose the vendor’s equity of redemption.

IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first
hereinabove written.

The Schedule above referred to

Signed and delivered by the withinnamed A

Signed and delivered by the withinnamed B

WITNESSES;
1 .
2 .

Barelaw, an online platform dedicated to delivering comprehensive legal knowledge, proudly presents its exclusive category of case briefs. This section is meticulously crafted to offer insightful analyses of landmark judgments, providing a valuable resource for legal professionals, students, and anyone interested in understanding the intricacies of law. Our case briefs delve deep into pivotal court decisions, exploring the rationale behind each judgment and its impact on the legal landscape.

We understand that navigating the complexities of legal judgments can be challenging. That’s why our case briefs are designed to be both informative and accessible, ensuring that readers gain a clear understanding of the key legal principles involved. Each brief includes a summary of the facts, the legal issue at hand, the court’s reasoning, and the ultimate decision. This structured approach makes it easier for our audience to grasp the nuances of each case.

We understand that navigating the complexities of legal judgments can be challenging. That’s why our case briefs are designed to be both informative and accessible, ensuring that readers gain a clear understanding of the key legal principles involved. Each brief includes a summary of the facts, the legal issue at hand, the court’s reasoning, and the ultimate decision. This structured approach makes it easier for our audience to grasp the nuances of each case.

Explore our case briefs and immerse yourself in the world of law. Visit our website now and discover the wealth of legal knowledge at your fingertips. The link is provided below for your convenience and direct access to our expansive legal database

You can access more legal drafts here – https://www.barelaw.in/legal-drafts/