sir as first advice is sure that his wife's consent is not required , but the question so far as that whether he can execute release deed or relinquished deed, or even gift deed of his part in favor of his mother is technical one, we must see the provision of stamp act , whether that act allow such kind deeds or not.
In my understanding, both release and settlement deed equally possible. It is only that in such cases, stamp duty involved is different.
Moreover, some States have their own Stamp Acts. If so, provisions of such local enactment would apply. Nowadays, only lesser stamp duty is involved in transactions among specified blood relations. Please ascertain.