Release Deed

Querist : Anonymous (Querist) 10 November 2010 This query is : Resolved
Can any group of person release their immovable property in favour of non-relative person / entity ? If yes, plz give legal reference for the same. Thanks in advance.

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Khaleel Ahmed (Expert) 10 November 2010
The religion and other necessary details have not mentioned in the query.

s.subramanian (Expert) 10 November 2010
A release deed or relinquishment deed can be executed only by a co owner in favour of the other co owner.

Kirti Kar Tripathi (Expert) 10 November 2010
agree with Mr. Subramanian

Raj Kumar Makkad (Expert) 10 November 2010
Yes. It can be done. A society/trust/HUF etc. can release such property in favour of desired entities.

Parveen Kr. Aggarwal (Expert) 10 November 2010
A release deed can be executed by any person in favour of any other person of his choice. So a group of persons can also execute release deed in favour of any other person or legal entity.

Chanchal Nag Chowdhury (Expert) 10 November 2010
A Deed of Gift is required in this case.

adv. rajeev ( rajoo ) (Expert) 11 November 2010
I agree with Subraminian

BHANU RASPUTRA (Expert) 11 November 2010
i agree with subrmanium.

if intension is to give on free then any word u can write it amounts to gift and stamp duty to be paid on gift to persons who are not relative.
where is property situate , as per state stamp act , stamp duty will apply.

to register the same .

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