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The Release Deed A deed is executed to release your property from any earlier charge created when you pay all the dues to the bank. It is a crucial document when you plan to sell your property because only after executing a release deed can you transfer the title to your property to a bonafide buyer.

Hence, a deed must be in writing and signed by both the parties involved. There are different types of deeds, such as conveyance deed, gift deed, trust deed, mortgage deed, hypothecation deed, release deed, partnership deed, lease deed and partition deed.

A sale deed includes the following details: Name and address of the buyer and seller. Detailed description of the property. Total payment to be made, mode of payment, date when the payment is to be made. Date of handing over of property documents. Other terms and conditions of the sale.

Examples of a deed are deeds of hypothecation for creating charge on movable properties in favour of the banks/financial institutions etc. An agreement by its name suggests that there should be at least two parties signing/approving the same. Examples of an agreement are agreement to sale, loan agreement etc.

If you have made payments, then relinquishment deed is a better option as in a gift deed there is no payment for receiving the gift. Stamp duty would be applicable in both scenarios. The amount would depend on the value of the property and the law of state where the property is situated. Best wishes.

A release deed involves a transfer of right, title, and interest in the immovable property, and is considered valid only when it is signed by parties in the presence of witnesses, adequately stamped and registered.

When the person dies intestate, the relinquishment deed transfers ownership. The legal heir (by inheritance) will transfer their shares in favor of co-owner or an additional legal heir, of the same property. A relinquishment deed will be assigned either for consideration or with no consideration.

A Relinquishment Deed or a release deed is generally used to transfer ownership when a person dies without leaving behind a will and his legal heirs inherit his property as per the provisions of the Hindu Succession Act 1956.