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Request to Release a Guarantor

At a glance

Price
₹99 · GST included
Stamp duty
No stamp duty — not an instrument under s.2(14), Stamp Act, 1899; plain paper.
Registration
Not registrable (s.17, Registration Act, 1908).
Witnesses
Contractual practice, not the s.59 mortgage rule; follow the lender's own requirement.

₹99

GST included

Launch period: downloads are free for now. The prices shown apply once payments open.

Guided questions, full draft on screen, download in Word.

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Also called

  • guarantor discharge request
  • surety release request

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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Why you need it

When you need it

For when the borrower and guarantor want the lender to formally release the guarantor — not automatic on request; the lender must agree and state the effect precisely. A continuing guarantee can be revoked for future transactions by notice (s.130), but liability already incurred survives, being co-extensive with the principal debtor (s.128). States the guarantee, outstanding, reason, replacement security, and whether discharge is complete or only prospective.

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

No stamp duty — not an instrument under s.2(14), Stamp Act, 1899; plain paper. A later release or guarantee is separately stamped.

Registration

Not registrable (s.17, Registration Act, 1908). A paper that also charges property is a mortgage, needing registration + 2 witnesses (s.59, TPA 1882).

Notarisation

Not required unless the lender asks.

Witnesses

Contractual practice, not the s.59 mortgage rule; follow the lender's own requirement.

Talk to a lawyer about this document₹3,539 including GST (₹2,999 + 18% GST), per documentRequest Stamp Paper

Sample preview — placeholder answers, not your data

REQUEST TO RELEASE A GUARANTOR

Request date: 1 April 2026

Borrower: Aarav Sharma, Sector 21, Panchkula. Lender: ABC Bank Ltd, Sector 17, Chandigarh. Loan: HL-2026-118; original/relevant amount ₹90,00,000 (Rupees Ninety Lakh only).

Guarantor: Naina Sharma. Guarantee: Guarantee dated 10 June 2024.

CURRENT POSITION

Outstanding: ₹42,00,000 (Rupees Forty Two Lakh only). Repayment: Account is regular.

RELEASE BASIS

Reason: Loan has substantially reduced and lender is asked to reassess need for guarantee. Details: Outstanding reduced to 35% LTV and repayment is regular.. Replacement support: No replacement requested; lender to reassess credit/security.

REQUESTED EFFECT

Written release from future and existing obligations under identified guarantee after effective date.

Please issue a written lender release stating the effective date and whether any accrued/pre-existing liability remains. Until that release is issued, this request does not represent that the guarantee has ended.

LEGAL BASIS

A guarantor's liability is co-extensive with the borrower's (section 128 of the Indian Contract Act, 1872). A guarantee that covers a series of transactions is a continuing guarantee (section 129), which the guarantor may revoke as to future transactions by notice to the lender (section 130). A variance in the loan terms made without the guarantor's consent, a release of the borrower, extra time given to the borrower, or the loss of the security discharges the guarantor wholly or in part (sections 133, 134, 135, 139 and 141). On a secured home loan, section 13(11) of the SARFAESI Act, 2002 lets the lender proceed against the guarantor without first taking any of the enforcement measures against the property.

Questions about this document

Does the Request to Release a Guarantor need stamp paper or stamp duty in Punjab and Chandigarh?

No stamp duty — not an instrument under s.2(14), Stamp Act, 1899; plain paper. A later release or guarantee is separately stamped.

Does the Request to Release a Guarantor need registration in Punjab and Chandigarh?

Not registrable (s.17, Registration Act, 1908). A paper that also charges property is a mortgage, needing registration + 2 witnesses (s.59, TPA 1882).

What does the Request to Release a Guarantor cost on Kaagazaat?

₹99, GST included.

Launch period: downloads are free for now. The prices shown apply once payments open.

Does the Request to Release a Guarantor need witnesses?

Contractual practice, not the s.59 mortgage rule; follow the lender's own requirement.

Often needed with this document

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