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Release deed in favour of surviving co-owners of the joint property
31-Mar-2023 (In Property Law)
A joint property is owned by Mr. A(Father), Mrs. B(Mother) and Mr. C (Son). Mr. A died intestate. Mr. A has two daughters as legal heirs alongwith Mrs. B and Mr. C. 1/3rd share of Mr. A will devolve upon his said legal heirs. Can each daughter execute a release deed in favour of Mrs. B(Mother) and Mr. C (Son) releasing their shares in the property. They want to give 50% of their share to Mother and another 50% to brother. Can one release deed have two releasees.
Yes, Release Deed can be made customarily as per the will of the parties wanting it to be executed. So, you can go ahead by opting to Draft One Release Deed having two releases. Hope, you found this answer relevant.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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What is release deed between co-owners?
These terms both mean the same thing: the co-owners can relinquish their ownership rights in the immovable property. The deed created for the same is termed as a relinquishment/release deed. 18-Oct-2023
How do I transfer property to my brother?
The section 122 of 1882s Transfer of Property Act should be followed when a gift of immovable is made. The gift must be made by a stamped and registered instrument signed by yourself, accepted by your sibling, and attested by two witnesses. 11-Jan-2016
What is the validity of release deed?
In India, a release deed (also known as relinquishment) for immovable property, is a legal document that is valid and legitimate. 16-Feb-2022
What is release deed for ancestral property?
A relinquishment is a document whereby a legal legatee releases or gives up his legal rights to a parental property. Relinquishment is the act of disposing of and giving up the rights, title and interest of one co-owner to another co-owner.
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