Relinquishment deed

Shivendra Pratap Singh

Advocate

High Court Lucknow

Article

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In India, a relinquishment deed is a legal document used to transfer or relinquish one’s share or interest in a property to another co-owner or interested party. It is commonly utilized in situations where multiple individuals have a share or ownership in a property, and one or more of them wish to give up their rights in favor of others.

Here are some key points to understand about relinquishment deeds in India:

  1. Purpose: The primary purpose of a relinquishment deed is to document the voluntary relinquishment or surrender of one’s share or interest in a property. It allows for the smooth transfer of ownership from one co-owner to another.
  2. Contents: A relinquishment deed typically includes the names and details of the parties involved, a description of the property being relinquished, the share or interest being relinquished, and the intention to transfer the ownership rights. It also includes the terms and conditions agreed upon by the parties, such as any consideration involved or any liabilities being assumed.
  3. Registration: Relinquishment deeds must be registered with the concerned Sub-Registrar of Assurances under the provisions of the Indian Registration Act, 1908. Registration provides legal validity to the deed and makes it admissible as evidence in court.
  4. Stamp Duty and Fees: Stamp duty and registration fees are applicable to relinquishment deeds based on the laws of the respective state where the property is located. The duty and fees are usually calculated based on the market value or the relinquished share of the property.
  5. Legal Implications: Once a relinquishment deed is registered, it becomes legally binding on the parties involved. The person relinquishing their share or interest no longer holds any rights or claim over the property, and the other co-owners or interested parties acquire the transferred share or interest.

It’s essential to consult with a legal professional to ensure compliance with the specific requirements and processes for executing a relinquishment deed in a particular state or jurisdiction. They can guide you through the drafting, execution, and registration of the deed to ensure its validity and enforceability.