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A Release Deed is a legal document used when a co-owner or legal heir voluntarily relinquishes their share in a property in favor of another co-owner or beneficiary. It is commonly used among family members, joint property holders, or heirs to settle ownership rights legally and avoid future disputes. A Release Deed ensures a smooth and hassle-free transfer of ownership without requiring a sale transaction.
Clearly mention the details of the parties involved and the property.
Specify the share being relinquished and in whose favor.
Both parties must be physically present at the Sub-Registrar's Office.
Submit the drafted deed, identity proofs, and property documents.
After verification, the Release Deed is legally registered.
1. Is a Release Deed taxable?
Stamp duty applies, but the rate is lower for transfers among family members.
2. Can a Release Deed be revoked?
No, once executed and registered, a Release Deed is legally binding and cannot be revoked.
3. Is it necessary to register a Release Deed?
Yes, for immovable property, registration at the Sub-Registrar’s Office is mandatory. Without proper release deed drafting and registration, the deed holds no legal standing.
4. Can a minor execute a Release Deed?
No, a minor cannot sign a Release Deed. However, their legal guardian may act on their behalf with court approval.
5. What is the difference between a Release Deed and a Gift Deed?
A Release Deed applies to co-owners relinquishing their share, whereas a Gift Deed can transfer property to any person without consideration.
Disclaimer: The information provided on this page is for general informational purposes only and does not constitute legal advice. Procedures, benefits, and outcomes may vary depending on the applicable laws of each state, and responses to frequently asked questions may differ based on individual circumstances.
1. Is a Release Deed taxable?
Stamp duty applies, but the rate is lower for transfers among family members.
2. Can a Release Deed be revoked?
No, once executed and registered, a Release Deed is legally binding and cannot be revoked.
3. Is it necessary to register a Release Deed?
Yes, for immovable property, registration at the Sub-Registrar’s Office is mandatory.
4. Can a minor execute a Release Deed?
No, a minor cannot sign a Release Deed. However, their legal guardian may act on their behalf with court approval.
5. What is the difference between a Release Deed and a Gift Deed?
A Release Deed applies to co-owners relinquishing their share, whereas a Gift Deed can transfer property to any person without consideration.
Disclaimer: The information provided on this page is for general informational purposes only and does not constitute legal advice. Procedures, benefits, and outcomes may vary depending on the applicable laws of each state, and responses to frequently asked questions may differ based on individual circumstances.