What this draft covers
- Recitals tracing title from the deceased to the heirs
- Release of undivided share, with or without consideration
- Covenants on title and further assurance
- Society transfer and consent for membership
- Schedule of the property
- Execution, attestation and registration
When to use it
Use when the heirs have agreed that one of them will own the inherited flat outright and the others will release their shares.
Format: Editable Word document (.docx), 3 pages.
Preview
[To be executed on non-judicial stamp paper / e-stamp of the applicable value]
DEED OF RELEASE
THIS DEED OF RELEASE is made at Mumbai on this [●] day of [month], 20[●]
BETWEEN
(1) [Name], aged [●], [occupation], residing at [address], [PAN ●], and (2) [Name], aged [●], residing at [address], [PAN ●], hereinafter together called the “RELEASORS” (which expression shall include their respective heirs, executors and administrators) of the ONE PART;
AND
[Name], aged [●], residing at [address], [PAN ●], hereinafter called the “RELEASEE” (which expression shall include [his / her] heirs, executors, administrators and assigns) of the OTHER PART.
WHEREAS
A. The late [name] (the “Deceased”) was the owner of the flat described in the Schedule below (the “Flat”), having acquired it under [agreement dated ●, registered under No. ●], and was a member of [Society] holding Share Certificate No. [●].
B. The Deceased died intestate at [place] on …
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