Cancellation of Document
Some registered documents can be cancelled at the wish of the executor of the document such as Power of Attorney and Will through a Cancellation or Revocation Deed.
Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Persons who have entered into partnership with one another are called individually ‘partners’ and collectively a ‘Firm’ and the name under which their business is carried on is called the firm name. Partnership Deed is registered for creating Partnership Firm. It needs minimum two partners.
Assignment Deed in general can be registered for assignment of any property. It is commonly used for transfer of a liability/debt. The purchaser in this case steps into the shoes of the transferor and has all such rights which the transferor has. The purchaser is entitled to amount due under a loan agreement and all such legal remedies to which the transferor was entitled. It can also be registered when a leased property is sold to a third party.
Release is a consequential method of transfer of interest in some immoveable property. It amounts to the same effect in the form of relinquishment of interest of a person in some immoveable property. In case of several persons having interest in the same property any one or more of them may release, relinquish, surrender, transfer and convey his share or interest in favor of others.
Under India Contract Act, section 124 provides that Indemnity is a specific contract, a purpose whereof is to extend promise to save other party from loss caused to him from the acts of the one executing the bond.