Release Deed – Chargeability : Stamp Act, 1899:

The Late M. Krishnaiah Chetty had purchased the subject property from one, Sheela Devi. Subsequently, after the demise of M. Krishnaiah Chetty, who died intestate on 16-04-2000, leaving behind the appellants 1 to 7, wife, sons and daughters, as his class I legal heirs, a document, dated 09-10-2003, has been presented and numbered as 50 of 2003, on the file of the sub registrar (District Registrar Cadre), captioned as Deed of Release.

Where the husband of the appellant had purchased the subject property from its original owner by virtue of registered sale deed and husband died intestate leaving behind wife (appellant), sons and daughter as Class I heirs, then the wife, sons and daughter would inherit the property as Class I heirs in terms of the Hindu Succession Act. However, since the parties do not belong to HUF, the grandsons, when their father is alive would have no pre-existing right over property. Therefore, the release deed by appellant alongwith her sons, daughters and grandson in favour of another son was rightly treated as conveyance under Article 23 of Schedule.

In the light of section 8 of the Hindu Succession Act, the releasees 2 to 4 do not have any preexisting right over the subject property. They have not inherited any property, as per section 8 of the Hindu Succession Act. The value of the property shown in the document is Rs. 2 lakh. As per section 5 of the Indian Stamp Act, any instrument comprising, or relating to several distinct matters shall be chargeable with the aggregate amount of the duties, with which separate instruments, each comprising or relating to one of such matters, would be chargeable under the Indian Stamp Act.