In order to be able to lawfully transfer their share of the property from one co-owner to another co-owner, co-owners must prepare and record a relinquishment document. As far as Hindu property is concerned, co-owners can give up their right to ownership by abandoning ownership of their joint Hindu property. As a result of this article, you will learn about the meaning, validity, registration, and benefits of a relinquishment deed.
Meaning of a relinquishment deed
This document is a legal document in which a legal heir relinquishes all of his or her legal rights to inherited property to other legal heirs in exchange for their good faith. A relinquishment deed transfers title of property to its heirs when the deceased person dies intestate. By inheritance, the legal heir will pass their interests to the co-owner or another legal heir of the property. In either case, a consideration or no consideration relinquishment deed will be assigned. It must be the case that the persons concerned are co-owners of the property in order for the transfer to be released or surrendered.
The process of registering a relinquishment deed
Registries Act of 1908 require that a relinquishment deed be recorded under section 17. In this case, the deed in question is a legal document in which a legal heir transfers his constitutional rights to an inherited property to other legal heirs in exchange for their compassion as a legal heir. As can be seen from the following, there are several steps involved in registering a relinquishment deed.
- As part of the Registration Process, you must prepare/draft a relinquishment deed. We recommend that you consult a lawyer who can draft the deed according to your specifications.
- Each bit of information concerning the relinquished property must appear in the deed of relinquishment printed on 100 rupee stamp paper.
- A completed deed must be filed with the sub-registrar of guarantees in the property’s jurisdiction once it has been completed.
- You are also required to pay a registration fee, which varies from one state to another.
- As part of the registration of the deed, both parties as well as two witnesses are required to make an appointment (visit physically) at the sub-registrar’s office on the designated date. They must bring all the documents for the verification and registration of the deed.
- In one week’s time after a Registered Relinquishment Deed is received from the service that was mentioned above, the process can be completed.
- As a result of Section 31 of the Act, there is a provision for sanctioning the Registering officer in instances where a person is physically incapacitated and is unable to visit the Sub-Registrar Office. People with physical disabilities are allowed to visit anyone presenting a Relinquishment Deed for Registration who is physically challenged.
- A relinquishment deed that is not registered isn’t considered to be a valid deed and cannot be challenged in court, so it is extremely important to emphasize that this is so.
Validity of Relinquishment Deed
It has been decided that the relinquishment deed will be considered valid only if the following conditions are met. The following are the scenarios that can occur:
- An interest in the property being relinquished must be held by the person relinquishing it.
- The relinquished property should also belong to the father, apart from his self-acquired property (the father does not hold a membership right during his lifetime), as well as a Joint Hindu Family property (associated membership).