Once a property is free from all legal obligations through the execution of the release deed, the transfer becomes irrevocable. This remains true even if the party, releasing his claim on the property, has not received any monetary consideration for the same. The deed of release ensures that no party involved in the previous agreement can continue with the agreement or any dispute pertaining to the subject.

Release deed types

1. Release deeds are used to end personal guarantees. This means that the person who had earlier acted as the personal guarantor of another individual can end his personal guarantee.
2. Release deeds are used to end loan agreements.
3. Release deeds are used to end commercial disputes.