Relinquishment Deed

WHAT IS RELINQUISHMENT DEED

A relinquishment deed is a legal document used for the transfer of property. It caters to the members of a family or co-owners of a property, such as legal heirs. As the name suggests, a relinquishment deed is used when one party wishes to relinquish or renounce their share of the property in favour of another.

It differs from many other legal instruments that record property transfer details as its use is restricted between co-owners. For example, if one of two brothers, such as Akshay, wishes to renounce their share in the inherited property, he may execute a relinquishment deed.

The consequence of executing such a deed is that one person (executant) surrenders their rights on the property, while the other (nominee) gains ownership of that share of the property.

WHAT ARE THE DOCUMENTS REQUIRED FOR RELINQUISHMENT DEED

• Documents about the registration and ownership of the property
• Description of the property
• Details about the co-owners of the property
• A document detailing the intention to relinquish the property
• Details of the deed
• Identity proofs of the parties to the deed, such as PAN Card and Aadhaar Card
• Details about the releaser and the release
• Any other documents that the authorities may require

WHAT ARE THE BENFITS OF A RELINQUISHMENT DEED

• A relinquishment deed provides for seamless transfer of property when it is jointly owned.
• Since a relinquishment deed is a written document and involves the mutual consent of the parties, it helps eliminate any future conflicts.
• A relinquishment deed is legally binding and admissible as proof of ownership in a court of law.

HOW CAN LAWTECH CAN HELP IN A RELINQUISHMENT DEED

DRAFTING: Lawtech can help draft the deed, which should clearly define the rights being relinquishment, the parties involved, and any condition or clauses.

VERIFICATION: Lawtech can help verify the details of the deed.

SIGNING: Lawtech can help ensure that both parties sign the deed in the presence of two witnesses.

REGISTRATION: Lawtech can help register the deed at the local sub-registrar office.

Lawtech can help ensure that the deed complies with all legal requirements and avoid common mistake to ensure that the deed protects the interests of all parties.

The deed of relinquishment is registered under section 17 of the 1908 registration act, to make it legally valid.