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Release Of Covenant for India

Release Of Covenant Template for India

A Release of Covenant is a formal legal document used in Indian property law to discharge or remove specific obligations, restrictions, or conditions that were previously attached to a property through a covenant. This document, governed by Indian property and contract law, particularly the Transfer of Property Act 1882, enables the covenant holder to formally release the other party from their obligations under the original covenant. The document requires careful drafting to ensure compliance with state-specific registration requirements and stamp duty laws, and may need to be registered with the relevant sub-registrar's office depending on the nature of the covenant being released.

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Release Of Covenant

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What is a Release Of Covenant?

A Release of Covenant is essential in Indian property transactions where there is a need to remove existing restrictions or obligations attached to a property. This document is commonly used when development restrictions need to be lifted, when property use conditions are no longer relevant, or when parties agree to terminate previously established property-related obligations. The Release of Covenant must comply with Indian legal requirements, including the Transfer of Property Act 1882, the Registration Act 1908, and applicable state laws. It typically includes details of the original covenant, clear release language, and proper execution formalities. The document is particularly important in urban development scenarios, property redesignation, or when modernizing old property arrangements.

What sections should be included in a Release Of Covenant?

1. Parties: Identifies all parties involved - the Releasor (party releasing the covenant) and the Releasee (party being released from the covenant)

2. Background: Recitals describing the original covenant, its date, registration details if any, and the context leading to its release

3. Definitions: Defines key terms used in the document, including property details, covenant specifics, and any technical terms

4. Details of Original Covenant: Specific description of the covenant being released, including its nature, scope, and obligations

5. Release Statement: Clear and unequivocal statement of release of the covenant and discharge of obligations

6. Consideration: Details of any consideration paid for the release, if applicable

7. Representations and Warranties: Statements confirming the authority to release the covenant and that no third-party rights are affected

8. Governing Law: Specifies that Indian law governs the release

9. Execution: Signature blocks and execution formalities

What sections are optional to include in a Release Of Covenant?

1. Indemnification: Used when there's a need to protect against future claims related to the released covenant

2. Third Party Rights: Include when the release might affect rights of parties not directly involved in the release

3. Partial Release: Required when only part of the covenant is being released while other parts remain in force

4. Registration Details: Include when the release requires registration under the Registration Act

5. Succession: Include when the release needs to bind successors and assigns

What schedules should be included in a Release Of Covenant?

1. Property Description: Detailed description of the property affected by the covenant

2. Original Covenant Document: Copy or extract of the original covenant being released

3. Title Documents: Relevant property title documents proving ownership and authority to release

4. Registration Details: Details of registration if the original covenant was registered

5. Payment Details: If consideration is paid, schedule detailing payment terms and conditions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Document Type

Release Agreement

Cost

Free to use
Relevant legal definitions
























Clauses




















Relevant Industries

Real Estate

Construction

Property Development

Legal Services

Banking and Finance

Education

Religious Organizations

Government and Public Sector

Infrastructure

Urban Development

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Corporate Affairs

Land Acquisition

Development

Operations

Risk Management

Documentation

Relevant Roles

Legal Counsel

Property Manager

Real Estate Developer

Land Acquisition Manager

Compliance Officer

Property Law Specialist

Real Estate Attorney

Urban Planning Director

Development Manager

Title Officer

Corporate Counsel

Property Rights Administrator

Legal Operations Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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