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Showing contexts for: settlor beneficiary same in P.S.Usha … vs P.S.Subramanian on 24 July, 2023Matching Fragments
The relevant portion of the deed of settlement is extracted hereunder, for better appreciation:
https://www.mhc.tn.gov.in/judis O.S.A. Nos.310 and 311 of 2022 “Whereas the Settlor is the truefull and absolute Beneficiary is the son of the 1 st Beneficiary herein:
Whereas by reason of the natural love and affection which the said Settlor has towards the Beneficiaries herein, the Settlor is desirous of making a suitable provision for the upkeep and maintenance of the 1st Beneficiary during his lifetime and grant by way of settlement of the under mentioned property to the 2nd Beneficiary herein absolutely.
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NOW THIS DEED OF SETTLEMENT WITNESSETH that in pursuance of the said desire and in consideration of the above premises and the natural love and affection which the Settlor has towards the Beneficiaries herein; the - Settlor, hereby revokes and cancels the said registered Will dated 24-12-1953 executed by her as aforesaid and hereby freely and voluntarily settles and transfers, grants, conveys and assigns, the house ground and premises bearing door No.2.Bazlullah Road. Thyagarayanagar, Madras, more - particularly described in the Schedule hereto of the value of Pa. 15,000/-(Rupees en teen thousand) only subject to the condition that the 1st Beneficiary shall have only a life interests the said property and shall during his lifetime receive sad an joy all the rents income and profits of the said property hereby settled after defraying from the said income the necessary expenses for repairs and for the maintenance and upkeep of the property in good condition and for payment of the Municipal taxes, quit rents and other public out-goings payable in respect of the said property with liberty however to reside in the said property during his lifetime if he so chooses and that the 1st Beneficiary shall not have any power to sell, mortgage, gift or otherwise transfer and alienate the said - property hereby settled or any part thereof during the lifetime of the 2nd Beneficiary herein and that after the lifetime of - the 1st Beneficiary, the 2nd Beneficiary herein shall possess - -and enjoy the said property hereby settled absolutely with - full powers of alienation by way of sale,gift,mortgage or otherwise transfer and alienate the same as the full owner therof.”