Release Deed

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Release Deed
THIS Deed of Release of interest in respect of an immovable property is
made the 30th day of September, 2019, by and between:
1. Kasarla Amarender Reddy, S/o. Late.K.Devender Reddy, Aged about 51

years, Occ. Doctor, R/o: 108, Stone creek, Lafayette, USA- 70508.
2. Smt. Billa Anitha, W/o. Billa Srinivas Reddy, D/o. Late. Sri.K.Devender
Reddy, Aged 49 years, Occu: House wife, R/o. H.No. 1-7-1029, Santhosh
Nagar Colony, Hunter Road, Hanamkonda, Warangal District
(Herein after called the Releasers’ and party of the First Part which
expression shall mean and include their heirs, successors, legal
representatives, administrators, assignees, etc)
And
Kasarla Surender Reddy, S/o. Late. K.Devender Reddy, Aged about 54 years, Occ:
Business, R/o. Flat No. 305, Plot No. 49, 50, 61, Swayam Residency, Balaji Colony,
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Near Ganesh Mandapam, Nizampet, Quthubullapur Mandal, K.V.Ranga Reddy

District.
(Hereinafter called Releasee and the party of the second Part which
expression shall mean and include their heirs, successors, legal
representatives, administrators, assignees, etc)
WHEREAS all the parties of the first part and the second part are the sole legal
heirs and successors of their father Late.Sri.K.Devender Reddy who
died intestate on 20-4-2015 and the W/o.Sri.K.Devender Reddy Smt.
K.Padmavathi Alias Padma predeceased him leaving behind the below
mentioned schedule property to be succeeded by his legal representatives. The
party mentioned at serial number one is younger son and the serial number two
of the first part is the daughter and the party second part is elder son and all are
children deceased Late.K.Devender Reddy.
WHEREAS the deceased had purchased the schedule property under a

registered sale deed bearing Doc.No: __________ of 20__ dated: _________
and ever since he was in possession of the same exercising full ownership rights
over the property.
WHEREAS after the death of the deceased, all the parties desired to settle the
property on any one’s name for the better and convenient enjoyment of the
house left behind by the deceased since, the extent of the property is only
_______Sft flat and it was not amenable to divide the property into three equal
parts for the enjoyment of the each share holder. Thus, to avoid any future
litigation in this respect serial number 2 party in first part and party in second
part herein sat together on 23-9-2019 in the presence of the family elders Sri.
K.Vijender Reddy and Sri. Billa Srinivas Reddy and the first party of the first
part has given his oral consent through phone to the parties and also elders to
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this document and agreed to sign on this document whenever he visit to India
and came to an oral understanding to release their respective shares to any one
of them who is desirous to hold the property in its entirety.
WHEREAS the party of the second part intended to retain the schedule property
and requested the parties of the first part to release their interest in the property
in his favour. All the parties of the first part agreed to release their share in the
property to the party of second part upon the terms agreed orally between them;
AND WHEREAS in pursuance of their oral agreement dated: 23-9-2019, it is

considered necessary and expedient to record agreement and performance
thereof in writing so as to facilitate future reference NOW THIS
MEMORANDUM OF RELEASE of interest in the schedule property hereby
records that;
1) That the party mentioned at serial number 1 of the party of the First Party
agreed to release his share in the schedule property in favour of the party
of the second part purely out of love and affection and without any
consideration for relinquishing his right in the property left behind by the
deceased with the effect from the date of the oral agreement.
2) The party mentioned in the serial number 2 of the party of the first part
agreed to release her share in the schedule property in favour of the party
of the second part for the reason that the second party agreed to pay and
clear the bank loan of Rs. ______________(Rupees
________________Lakhs Only) which is pending in Jagruthi Bank,
ECIL Branch, Hyderabad as the same was obtained by the serial number
2 of party of the first party on her father name by mortgage the schedule
property document and the said loan amount used for herself. The party
of the second part agreed to clear the entire loan on or before 30-9-2019
and on such payment the serial number 2 of the first part agreed to sign
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on NOC document in Bank for obtain the original document by the party
of the second party.
3) The parties mentioned at serial No.1 & 2 of the parties of the first part
severed themselves from the property with effect from the date of oral
agreement and released their interest in the schedule property in favour of
the party of the second part in lieu of the above terms 1 & 2.
4) The parties of the first part hereby declare that they have relinquished
their share in the schedule property in favour of the party of the second
part to hold the same as absolute owner thereof without any encumbrance
or charge and that they do not have any manner of right, title, interest
over the schedule property and agree and undertake to execute any
document, affidavits, declarations etc in favour of the party of the second
part before any court and authorities if so required for consolidating his
ownership so that the rights in respect of the schedule property may be
enjoyed by him without any interference from the parties of the first part
or any other person or persons claiming through the parties of first part
and have no objection for changing the ownership in the name of the
party of the second part in records of the GHMC.
5) That it is further hereby declared and agreed between the parties that this
Release deed ends all disputes between the parties relating to the
respective rights and claims of the parties to the property of the Deceased
and that parties of the first part for the purposes of this release admits the
exclusive ownership of the party of the second part over the below
schedule property.
6) The said parties of the first part have obtained independent advice
and they are fully aware of meaning and effect of this deed.
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IN WITNESS whereof the said parties of the first to fifth part have hereunto
at Bachupally, Ranga Reddy District, Hyderabad signed this deed the day and
the year first above written.
Schedule of Property
All that piece and parcel of Flat bearing No. 501, Fifth Floor, in Madhuvani
Apartment, H.No: 2-10-789, Teachers Colony, Phase-I, Waddepally Road,
Subedari. Hanamkonda, Warangal Urban District and bounded by;
North: Open to Sky (30 ft Road)

South: Flat No. 500
East: Corridor,
West: Open to Shy & Open Place of Apartment
Witnesses:
1) (K.Amarender Reddy )
2) (Smt Billa Anitha)
(K.Surender Reddy)

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Page 1 of 5

1. Kasarla Amarender Reddy, S/o. Late.K.Devender Reddy, Aged about 51

Near Ganesh Mandapam, Nizampet, Quthubullapur Mandal, K.V.Ranga Reddy

WHEREAS the deceased had purchased the schedule property under a

AND WHEREAS in pursuance of their oral agreement dated: 23-9-2019, it is

North: Open to Sky (30 ft Road)

2) (Smt Billa Anitha)

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