When you go through the definitions given in your quoted website, it is clear that both has been defined with similar meaning but with different wordings. Meaning for both deeds exhibited same, ie., giving up /surrendering rights...
As Dr. J.C. Vashista sir said, both terms are synonymous. Both Deeds be executed for purpose of relinquishing their right of claim against other, in absence of which, could be claim against such person
Release deed is giving up claim or right or title by one or more persons in favour of another or others.
In the case of Release, the person in whose favour the release is made usually has a pre-existing interest in the property and qualifies for release on that basis
Release is used in cases where there is no requirement of a conveyance or a transfer of property, but the transaction involves relinquishment of a right or a claim
Our Expert Ravinder Sir already discussed this issue, his opinion reproduced below for your reference and issues on Stamp Duty
‘’ Point-A—Normally relinquishment in other cases will be 1% of the market value of the relinquished property. I cannot say exactly, because it differs from state to state.
Stamp duty will be charged on the property relinquished and not on the remaining property.
How is the Stamp Duty to be calculated ??Is there any formula for it ?? Reading of the Stamp Duty Act indicates that the stamp duty is payable on value of the area as per the Circle Rate. Since this Office Room is a part of the multi-story building, how is the Stamp Duty to be calculated ? Will it be on the market value of the share of my son ???
There are two types of market value (i) Open market value, this is not concerned with the market value of government rate. (ii) Govt rate, which will be fixed by the Govt and will be increased from time to time according to the development of the area. All the transactions are done according to the Govt rate only, they do not recognize or believe open market value. There will be a fixed format for Open land (before layout) calculated in Acres, Plots (after layout) calculated in Sq yds/sq mts, Flats, calculated in sq feet area.
Q.Secondly, it is transfer from son to father without any consideration. Hence ipso facto there is no sale involved.
A. Relinquishment is conveyance and right in the property will be transfered, it is equivalent to sale, the registration charges are 1% of the market value.
Hope, given information cleared your doubts......