Tranfer deed can be treated as a release deed
Querist :
Anonymous
(Querist) 28 August 2023
This query is : Resolved
Sir a tranfer deed can be treated as a release deed.
Please provide any citation if you have.
kavksatyanarayana
(Expert) 28 August 2023
Transfer deed means a person transfers his property to another by way of sale/conveyance, gift/perpetual lease, release act in case of joint ownership etc. The release and releasor must have common rights over a property for a release deed.
Querist :
Anonymous
(Querist) 28 August 2023
In this case release and releasor were have common rights in property but the title mentioned transfer deed by mistake
Querist :
Anonymous
(Querist) 29 August 2023
Not possible now as deed have been done in October 2021 and mutation also done. But now I got notice from DRO for depositing stamp duty because title mentioned in deed is TRANSFER DEED IN BLOOD RELATION
T. Kalaiselvan, Advocate
(Expert) 30 August 2023
Relinquishment deeds transfer a person's legal rights to a property to someone else with their consent. In such cases, the two people must be related. A release or re conveyance deed renounces one's claims against a specific property. In such cases, the two people do not have to be related.
by the release there is no transfer of interest or title to another person, who has no pre-existing right in such property. A release, therefore, can only be made in favour of a person who has a pre-existing right or interest in the property. A release can feed title, but cannot transfer title.
If a person releases his vested right or interest in a property for a consideration, it is nothing but conveyance or sale. If he releases his vested interest without consideration but only for natural love and affection it will amount to a gift. If he releases his interest in one property in favour of another in consideration of that other person releasing his interest in another property in favour of the former, the transaction is nothing but an exchange or partition.
If it was a release deed for consideration then the applicable stamp has to be paid.
