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Rajesh (properitor)     04 May 2010

Release Deed-Relinquishment Deed-Settlement Deed-Partition D

Dear All,

Could the community guide us the difference between:

1) A Release Deed

2) A Relinquishment Deed

3)A Settlement Deed

4) A Partition Deed.

Which is to be used under what circumstances?

 

Regards!



Learning

 7 Replies

Adv. Gulammayudin A. Gagdani (LEGAL ADVISOR)     05 May 2010

partition dedd is used when partition of any property is done mongst member

Adv. Gulammayudin A. Gagdani (LEGAL ADVISOR)     05 May 2010

settlement deed is a agreement which is used when any disputes amongst any persons or group of  persons is settled or you can say compromise after any disputes.

CA Adarsh Agrawal (CMD of SHAYVIDZ Group)     05 May 2010

Relinquishment deed is for relinquishing his/her rights on property or else.

(in hindi : Relinquishment means Haq Tyaag)

CA Adarsh Agrawal (CMD of SHAYVIDZ Group)     05 May 2010

Release Deed :

A document, in the form of a Deed in which one who has limited rights to a piece of real estate (usually a Mortgagee or Lienholder) abandons those rights back to the owner of the real estate; often takes the form of a Quitclaim Deed.
Example: Morgan holds the mortgage on Fillmore's land. Fillmore wishes to sell part of the land. In return for Fillmore paying down the mortgage loan by an agreed amount, Morgan gives Fillmore a deed of release to the part to be sold, so that Fillmore can transfer Clear Title to the buyer.

Rajesh (properitor)     05 May 2010

So if i want to convert a joint holding property(joint holding of son and mother) into a single holding(only mother)...I should to a relinquishment deed(haq tyaag)

 

What would be the stamp duty in Gujarat for relinquishment deed?

CA Adarsh Agrawal (CMD of SHAYVIDZ Group)     06 May 2010

Dear Mr. Rajesh !! in my opinion, relinquishment deed is appropriate as u also said !!

 

One more important thing that, on the taxation point of view, the relinquishment of right will be deemed as transfer, so the liability of capital gain will arise.

 

I dont know about the stamp duty fee structure of Gujrat.

Deepak Nayar (Sr.GM)     26 May 2014

On the death of our mother property was transferred between 3 brothers on the basis of release deed with consideration. Delhi govt. charged 3% stamp duty and 1% registration. MCD is now demanding a transfer duty of 3% for the property mutuation in my favour.(sec147/ b of MCD  Act

i was told by the lawyer that this is not applicable as it is not a sale and hence not payable.

could I get correct advise on whether this is legally payable. I understand?


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