• Release or relinquishment deed

Is it necessary to own the said property before entering into release or relinquishment deed. 

If the release deed is not signed by the releasee and signed by releasor than does the document remain valid.
Asked 4 years ago in Property Law
Religion: Hindu

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22 Answers

Release deed execute for relinquishing share in jointly owned property by either co owner.

Deed should execute bilateral. But if possession transferred to releasee and in his possession, it may complete and valid.

If no single sign than it can be objected as not duly executed.

Yogendra Singh Rajawat
Advocate, Jaipur
22596 Answers
31 Consultations

4.4 on 5.0

Yes ownership is.first required then only release or relinquishment deed is valid.

Both the parties has to necessarily sign the document.

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

See if the document is not registered and both the parties has not signed same can be challenged before the court.

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

You must ha e share in property then only release deed can be executed 

 

2) it should be duly stamped and registered 

 

3) it should be signed by the releasor 

Ajay Sethi
Advocate, Mumbai
94523 Answers
7485 Consultations

5.0 on 5.0

Release deed would be valid provided it is duly stamped and registered 

Ajay Sethi
Advocate, Mumbai
94523 Answers
7485 Consultations

5.0 on 5.0

Without acceptance the release deed shall not be valid in law  and be void to extent of the proposed interest of the non-acceptor.

Kallol Majumdar
Advocate, Kolkata
2837 Answers
14 Consultations

5.0 on 5.0

Check the deeds are duly stamped and registered. If it is not done then the validity of the documents are to be changeable.

From your query it could be seen that two properties purchased by X in his own name are from the proceeds paid by X brothers and so the two properties are HUF. If the property was purchased on the joint name then only the co owner can claim over the property.

The heirs of X sign a release deed in 1978 to a firm/ company whose partners are X older brother heirs. The person in whose favour the release is made usually has a per-existing interest in the property. As with all documents related to the transfer of immovable property, a release deed needs to be signed by both parties, stamped and registered. Stamp duty will be applicable only on the portion of the property that is relinquished. It is mandatory to register release deed with the sub-registrar of assurances as per section 17 of the Registration Act, 1908, otherwise the transfer will be held invalid.

 

Ajay N S
Advocate, Ernakulam
4072 Answers
110 Consultations

5.0 on 5.0

No one can release or relinquish what he does not own. In case of release deed the person in whose favour release is made has a pre-existing interest in the property, whereas relinquishment deed can even be in favour of someone who does not have such interest.

Ashish Davessar
Advocate, Jaipur
30763 Answers
972 Consultations

5.0 on 5.0

1. The release deed in favour of firm/company is illegal as firm/company had no pre-existing interest in the property and, therefore, did not qualify for release. It makes no difference if X's brother was a partner in the firm/company as company is an entity separate from its shareholders.

2. The heirs of X can file a suit for declaration to declare the release deed as void and seek recovery of possession of the property, if it is within limitation period.

 

Ashish Davessar
Advocate, Jaipur
30763 Answers
972 Consultations

5.0 on 5.0

No, first the property has not transfer on legal heirs name on all mutation records than has to registered release deed like sale deed transaction are done. After that the property are transfer on company's name.

Ganesh Kadam
Advocate, Pune
12910 Answers
253 Consultations

4.9 on 5.0

1.  IT is a legal requirement for Both the Releasor and the Releasee, to sign on the Release Deed, as acceptance of the release deed.

2.  Further a Release Deed must be COMPULSORILY be Stamp Duty Paid and Registered before the local Registrar of Sub-Assurances, for it to be legally enforceable.  ELSE the release deed will become null & void for all futuristic purposes.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

It's not necessary to be the owner. Also a legal heir can relinquish his rights through registered release deed 

Prashant Nayak
Advocate, Mumbai
31807 Answers
176 Consultations

4.1 on 5.0

1. if X admitted that the property purchased by him was infact a HUF property, then upon his death, his undivided share in the HUF property would devolve on his legal heirs as per s.8 of Hindu Succession Act

2. further the male descendants of X [ie his sons, grandsons, greatgrandsons] would have their own independent share in the HUF property the moment they are born

3. thus when the male heirs of X release their right share and interest in the HUF property in favour of the firm/company, they cease to be coparcenors of the HUF property

4. however whether the undivided shares of X's heirs are duly transferred by release to the firm, needs to be ascertained from a registered release deed

5. also if there was no consideration passing from the firm to the heirs of X, then the release will be considered as a gift and a gift is also required to be effected by a registered document 

6. further one of the essentials of a valid gift is acceptance of the subject matter of gift by the donee. In your case [assuming no consideration passed from firm to X's heirs and therefore transaction is a gift], since the releasee has not signed the document, the gift is not complete 

Yusuf Rampurawala
Advocate, Mumbai
7485 Answers
79 Consultations

5.0 on 5.0

Whether it is valid or not - this can be challenged at present, barred by limitation. Only if possession still lies with X heirs, release deed is incomplete and void ab initio.

Registration completes when signed by both the parties and deed registered with sub registrar.

Yogendra Singh Rajawat
Advocate, Jaipur
22596 Answers
31 Consultations

4.4 on 5.0

Yes, you can only release or relinquish your right, when you have an actual right on the property. 


Regards 

Anilesh Tewari
Advocate, New Delhi
18077 Answers
377 Consultations

5.0 on 5.0

Dear Sir

i will not contact you at your given number in the remarks section

if you like to speak to me, i request you to book a paid phone consultation through kanoon

Yusuf Rampurawala
Advocate, Mumbai
7485 Answers
79 Consultations

5.0 on 5.0

You can execute the same after succession certificate if there is any dispute regarding Heirship. If there is no dispute then legal heirs being the successors can relinquish their rights and state the necessary averment in the said deed

Prashant Nayak
Advocate, Mumbai
31807 Answers
176 Consultations

4.1 on 5.0

it should be signed by the releasor. It should be compulsorily registered. An unregistered release deed is not valid in the eyes of law.

 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

Section 17 (1) b of the registration act mandates that any document which has the effect of creating and taking away the right in respect of an immovable property must be registered and 49 of the Act imposes bar on the admissibility of an unregistered documents.

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

Yes it is mandatory to own the property to make release deed for said property. 

In release deed the signature of acceptance are must.

It should also be duly stamped and registered with sub registrar.

Mohit Kapoor
Advocate, Rohtak
10687 Answers
7 Consultations

5.0 on 5.0

The shareholder only can relinquish his/her rights in the property in favor of co-sharer by executing a registered release deed either for a valid consideration or without consideration. also. The beneficiary has to sign the deed as an acknowledgment along with the donor.

 

T Kalaiselvan
Advocate, Vellore
84722 Answers
2172 Consultations

5.0 on 5.0

This transaction is reported to have taken place in the year 1978 that too in favor of a firm, hence demanding signature from the beneficiaries in the deed at this stage is not maintainable, becasue the  it is not a hard and fast rule that the beneficiary has to sign the release deed at that time, now it has been made as a requirement for the reason that it involves valid consideration.

Therefore non-signing of the deed by the beneficiary is not fatal to the case.

T Kalaiselvan
Advocate, Vellore
84722 Answers
2172 Consultations

5.0 on 5.0

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