GIFT BY LADY TO HER MINOR GRAND SONS
LET IT BE KNOWN TO ALL that I, Mrs ……aged about …………….w/o…………….r/o……………..do hereby on this………….. day of………….. declare as follows:
WHEREAS the executants, having an account with …………………., Bank……………….. and also having a Credit balance of Rs…………… in her account has withdrawn a sum of Rs……………. of which she is anxious to make a gift to her minor grandson ……….s/or/o……………… which is acceptable by the father of the minor grandson acting as his natural guardian.
THE DECLARATION THEREFORE WITNESSES AS FOLLOWS :
1. That I have gifted the sum of Rs out of love and natural affection for my grandson, desiring that he should be brought up in a dignified manner and according to the status of the family in which he is born.
2. That I also declare that the gifted amount is irrevocable property of the minor grandson without any kind of benefit reserved for the executants.
3. That the gifted amount has been accepted by the father of the said grandson, Sri.
4. That the income accruing to the minor out of the gifted amount by way of interest, profit and otherwise shall be the exclusive income of the said minor grandson in which the donees father or mother shall have no interest.
IN WITNESS WHEREOF, I have signed this declaration on the day, month and year first above mentioned.
Sd/-Donor..
Witnesses :
1. .. Accepted
2. .. Sd/- Father of minor