Relinquishment Deed Registration
When a person dies without leaving a will, his/her legal heirs inherit the property. They are co-owners. One legal heir may want to relinquish his/her right to the property and transfer it to another co-owner. This is called relinquishment of property, which is done only between co-owners and only for inherited property.
Relinquishment deed is a legal document that states this transfer of property by relinquishing the rights by one co-owner to another.
It is important that the relinquishment deed be registered to make it a legally authentic document under Section 17 of the Registration Act 1908.
A Relinquishment Deed Contains the Following:
- Details of the person who is relinquishing the property and the person to whom the property is being transferred.
- Details of the property, such as description, location, etc.
- Details of the share in ownership by each party.
- Signature of both parties, plus two witnesses.
Pre-Requisites of Relinquishment Deed Registration:
- Draft of relinquishment deed.
- ID proofs of both parties (person who is relinquishing and the person to whom the property share is transferred).
- Challan as a proof of payment of stamp duty.
- Passport size photos of both parties.
- Two witnesses, along with their ID proofs.
Procedure for Creating and Registering a Relinquishment Deed
- Hire a lawyer to discuss your intention of relinquishing your share of the property to the other co-owner.
- The lawyer will draft the relinquishment deed accordingly.
- Pay the stamp duty, which is generally Rs. 100/-. Your lawyer will verify the amount as per the state.
- Visit the office of the sub-registrar for relinquishment deed registration.
- Pay the registration fee, which may also vary as per state.
- Produce all the required documents.
- Sign the deed. The person to whom you are relinquishing your share will also be present during this time and sign the deed.
- The two witnesses will also be present during this time and sign the deed.
- Relinquishment deed registration is done.
Benefits to choose service
Relinquishment deed is a legal document, hence, you require the services of a good lawyer who will draft the deed in legal terms and help you register it in an error-free manner. Online Legal Center provides lawyers for relinquishment deed drafting and registration.
Frequently Asked Questions (FAQs)
Relinquishment deed registration leads to hassle-free transfer of property from one co-owner to another and without any conflict, as there is no will present. The deed also serves as evidence of ownership of property.
Relinquishment Deed can be made only on inherited property, whereas Gift Deed can be made on property that you have inherited or purchased.
In Relinquishment Deed, the person can relinquish the rights of his/her property and transfer it to only another co-owner of the property who is related to him/her. On the other hand, in a Gift Deed, the person can gift the property to anybody, not necessary his/her relative.
Relinquishment Deed cannot be revoked unless there is a fraud or coercion involved in which the person must prove it and revocation can be done within 3 years of the deed execution. On the contrary, Gift Deed can be revoked.
Relinquishment Deed may or may not have consideration or money exchange. On the contrary, Gift Deed has no consideration or money exchange. Only then it is regarded as a gift.
Yes. Section 7(1) b of the Registration Act 1908 mandates the registration of relinquishment deed. Further, Section 49 of the Registration Act states that if the deed is not registered, then it cannot be argued upon in the court in case a dispute arises with respect to the deed.