302/3, Manish Chamber, Sonawala road, Goregaon (E), Mumbai - 400063

Release Deed

Release Deed Registration in Mumbai

A release deed is a legal document used in property transactions that relinquishes the rights and interests of one party over a specific property to another party. In simpler terms, it is a legal instrument used to transfer ownership of a property from one party to another. A release deed is usually executed when a property owner wants to release their rights in favor of another person or entity.

What is Release Deed?

A release deed is a legal document used to transfer the rights of an immovable property from one person to another. It is commonly used in cases where the ownership of a property needs to be transferred from a previous owner to a new owner.

What are the Documents Required for Release Deed in Mumbai?

To create a Release Deed in Mumbai, the following documents are required:

Original property documents: The original documents of the property being transferred must be provided, such as the sale deed, gift deed, or lease agreement.

Identity Proof: The identity proofs of the parties involved, such as the PAN card, Aadhaar card, or passport, must be submitted.

No Objection Certificate (NOC): An NOC from the builder or society where the property is located is required.

Stamp duty and registration fee: The release deed must be stamped and registered, and the appropriate stamp duty and registration fee must be paid.

What are the Steps to Create a Release Deed in Mumbai?

The following are the steps involved in creating a Release Deed in Mumbai:

Draft the release deed: The release deed must be drafted, either by a lawyer or by using an online template. The deed must include the details of the parties involved, the property being transferred, and the terms and conditions of the transfer.

Get the deed printed on stamp paper: The deed must be printed on the appropriate value of stamp paper, as determined by the Maharashtra Stamp Act, 1958.

Execute the deed: The parties involved must sign the deed in the presence of two witnesses. The witnesses must also sign the deed.

Register the deed: The deed must be registered at the office of the Sub-Registrar of Assurances within four months of execution. The appropriate stamp duty and registration fee must be paid at this time.

Collect the registered deed: Once the deed is registered, the parties must collect the registered deed from the Sub-Registrar's office.

Get Expert Support

LegaLaster © 2023 | All Rights Reserved.
Designed & developed by Legalaster