The key elements and process of registering a relinquishment deed

The majority of people don't create a will for years. In many cases, a person who has died without a will is referred to as an "intestate" person. When a person passes away "intestate", his/her legal heir inherits the property of that person. In the event that there are two or more legal heirs and they wish to separate the property, the relinquishment deed is a great choice, since it facilitates a smooth transfer of property if there are two or more legal heirs. The relinquishment deed is a legal document in which a legal heir gives up his legal rights in inherited parental property to another legal heir, such as his mother, son, daughter, brother, sister, etc. Known as "Relinquishment of Property", it occurs when one co-owner transfers ownership of property to another co-owner without consideration.

Relinquishment of property points to consider

  • Property can only be relinquished by someone who is the legal heir of the property; in the event that there are more than one heir, either of the two co-owners is eligible.

  • Unless the co-owner of the property is the one who relinquishes the property, it cannot be done. A relinquishment deed of a property cannot be made in the name of another person. When a relinquishment is made to a person who is not a legal heir, it will be considered a gift.

  • Taking possession of property requires the signing of a legally binding document called a Relinquishment Deed by all parties and at least two witnesses.

  • Subregistrars within whose jurisdiction the property is located register relinquishment deeds.

A Relinquishment Deed's Key Components


  • This legal document transfers or releases an heir's legal right over inherited property through a relinquishment deed.

  • The function of a relinquishment is to transfer ownership of property from one owner to another, and this is not possible if the property has more than one owner. A relinquishment deed is irrevocable even if it is made without consideration.

  • Release Deeds and Release Deeds Without consideration can both be used for relinquishments.

  • Relinquishment deeds are covered by Section 17 of the Registration Act, 1908 [1] and it is mandatory to have them registered with the appropriate subregistrar office.

Relinquishment Deed Registration

The Relinquishment deed, which is a legal document which gives up the legal rights of an inherited property to the other legal heirs, must be registered in accordance with Section 17 of the Registration Act, 1908. Below are the steps required to register a relinquishment deed:

  • Relinquishment deeds should be drafted by a lawyer. Consult a lawyer if you need help drafting the deed.

  • Each detail of the relinquished property should be included in the deed, which should be prepared on 100 rupee stamp paper.

  • Following the preparation of the deed, it needs to be submitted to the sub-registrar of assurances whose jurisdiction the property falls under.

  • In addition to paying the registration fee, you should also pay the registration fee. The amount of the registration fee varies from state to state; generally, in all states, it is between Rs 100 and Rs 250.

  • For the registration of the deed, both parties and two witnesses must appear at the sub-registrar's office on the reserved date with other documents such as passport size photos and identification proof.

  • In one week's time, the Registered Relinquishment Deed can be collected once everything listed above has been completed.

  • Under Section 31 of the Act, a provision has been made to allow the Registering officer to attend the home of anyone wishing to present a Relinquishment Deed for Registration if that person is physically handicapped and cannot reach the subregistrar office.

Also Read:

Comments

Popular posts from this blog

What You Need to Know About Term Sheet?

Deed of Relinquishment

Negotiating a Term Sheet - Important Tips