Amendment status not verified — confirm the current text below against the official source.
Release, that is to say, any instrument (not being such a release as is provided for by section 24,) whereby a person renounces a claim upon another person or against any specified property: 6[(a) where the release is not between the family members The same duty as a Conveyance [under Article No.20(1)] on the market value of the property or on the amount or value of claim or part of claim renounced, as the case may be (which is the subject matter of release) or consideration for such release, whichever is higher.]6 4[(b) Where the release is between the family members 7[(i)If the property is situated within the limits of Bangalore Metropolitan Regional Development Authority or Bruhat Bangalore Mahanagara Palike or City Corporation ……Rupees five thousand; (ii)If the property is situated within the limits of City or Town Municipal Council or Town Panchayat area …………. Rupees three thousand; (iii)If the property is situated within the limits other than the limits specified in items (i) and (ii) …………………. Rupees one thousand; Provided that, if the property is situated in any of the combinations of 86 limits, mentioned in items (i), (ii) and (iii) above the duty payable shall be the maximum of the duties specified in items (i), (ii) and (iii) above.]7 Explanation.- family in relation to a person for the purpose of clause (b) means husband, wife, son, daughter, father, mother, brother, 6[wife / children of predeceased brother]6 sister, 6[husband/ children of predeceased sister]6 wife of a predeceased son and children of a predeceased son or predeceased daughter."]4]2 5[(c)Release of mortgage rights or lien Same duty as bond (No. 12) subject a maximum of 8[rupees two hundred]5]8