Gift deed / release deed
Dinesh RAthod
(Querist) 22 July 2013
This query is : Resolved
An industrial property located in Delhi was given to two brothers by a conveyance deed of a govt land owning agency. Now one brother wants to withdraw and want the property to be made freehold in the name of the other brother. The dept doing freehold has suggested to either go in for a gift deed which involves 6 % of stamp duty or another conveyance deed. We have been informed that the purpose of gift deed can be served by making a release deed also and this involves 3 % of stamp duty..would like to know if release deed can be substituted by gift deed and is legally authentic?
Sri Vijayan.A
(Expert) 23 July 2013
Release deed is the right choice.
It is valid.
Raj Kumar Makkad
(Expert) 23 July 2013
Registered Relinquishment Deed is the best option.
Sri Vijayan.A
(Expert) 24 July 2013
Release deed and relinquish deed are same.
Regarding stamp duty and registration fee, consult a Delhi based Lawyer.
Advocate Ravinder
(Expert) 28 July 2013
Release deed is correct one. The stamp duty will be only 1% in A.P. Contact local sub registrar for better information.
