Property, Real Estate and Legal Issues
In case of Hari Kapoor v. SDMC [2019] GCtR 6421 (Delhi), issues related to property and real estate were explained. In that case, A had executed deed of release and relinquishment in favour of B.
It was held that no transfer duty is to be paid by B.
It would follow that a deed of release is an instrument by which one co-owner releases his interest in a specified property as a result of which there would be enlargement of the share of the other co-owners. The releasee should also have a legal right in the property and the release deed would operate to enlarge that right. The share cannot be released in favour of one who has no rights in the property as co-owner.
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