Relinquishment Deed registration: Everything you need to know
Relinquishment Deed Introduction If a person dies intestate (without leaving a will or testamentary will), their property will be inherited by their legal heir. After that, it is up to the heirs to decide what to do with the property. If the heirs come to the conclusion of separation of property, any co-owner (who does not wish to keep the property) can renounce his share and transfer it to the other. Property is relinquished when one owner approves the transfer to another. A Relinquishment Deed's Essential Elements An heir may transfer or release his legal right to the inherited property through a relinquishment deed . Transfers of rights have the effect of releasing one co-owner's share and enlarging the shares of the other co-owners. When there is more than one owner of the property, a release or relinquishment deed is irrevocable. When property is relinquished to a third party, the individual acquiring the property must be a co-owner. Otherwise, the relinquishment will be...