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Release Deed
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Release Deed
The property can only be released in the name of a person who is co-owner or co-sharer in the property. Or in other words, property cannot be released in the name of any third person other than the already existing co-owner. Hence, for a valid release deed, the person getting the released property must be a legal heir.
IN WHOSE NAME CAN A PROPERTY BE RELEASED?
The property can only be released in the name of a person who is a co-owner or co-sharer in the property. Or in other words, property cannot be released in the name of any third person other than the already existing co-owner. Hence, for a valid release deed, the person getting the released property must be a legal heir.
WHAT ARE THE DOCUMENTS REQUIRED TO DRAFT THE RELEASE DEED?
The property details and relevant property documents like previous sale or partition deeds.
The proportion of shares owned by each heir up to the creation of the release deed should be mentioned.
Relationship status of two parties.
The two parties address/ID proof, Tax Paid receipts, Khatha etc.
The very purpose of a release deed must be mentioned.
Declaration regarding the no claim over the said property.
WHAT IS THE PROCEDURE TO REGISTER THE RELEASE DEED?
Follow the steps to get a release deed registered
The release deed is drafted by lawyer/legal experts.
Is must be printed on non-judicial stamp paper (Minimum) of Rs.100.
You must take the date for the registration of the deed from the sub-registrar office.
Just pay the registration fee which varies from state to state.
Signatures of both the parties along with two witnesses will be required to get a deed registered.
HOW AND DRAFT RELEASE DEED ONLINE?
If you have an immediate requirement of Release deed for registration, but you don’t know the procedure to get it and what are the other details that need to be covered and where to register the deed. It’s so simple and hassle free because we are here to help you.
Now, no need to waste the time in finding a lawyer and fulfilling other requirements. Acreok is here to assist you in drafting a good Release deed. You have to just fill the form and make payment online and we will get it registered in a very reasonable price. Just click the button below and to place your request.
Frequently Asked Questions
A deed which can be enforced towards anyone who has a pure interest in the property.
Yes. For e.g. It is assumed that post the demise of your parents, the flat is owned by all three siblings in equal proportion and the share certificate issued by the society is in the name of all the siblings. Under such circumstances, your siblings may execute a release deed in your favour when they have to give up their share.
Release deed will attract stamp duty for transferring or releasing the deceased interest, depending on the state in which the immovable property is situated
A deed of release is used to end an agreement or dispute and to make sure that no party can continue with the dispute or agreement. For example, when a commercial dispute is resolved with another party, both parties will need to formulate a deed of release.
The following are different types of deeds of release:
- Ending a personal guaranteeis a deed of release that allows an individual to end personal guarantee and personal liability.
- An employee deed of release is part of the employment contract. It relates to the termination agreement, redundancy agreement, or is part of a settlement between an employee and employer.
- Termination of a credit agreement or loan involves ending a mortgage or loan agreement.
- Resolving a commercial dispute is often in relation with a deed of settlement
This release deed will have to be registered before the concerned office of the sub-registrar of assurances on payment of stamp duty.
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