Property Documents Verification

Is Relinquishment Deed For Immovable Property A Valid Document?

If you have a doubt about the validity of the Relinquishment deed for immovable property, then here is everything you need to know about it.

Many people resist creating a will for years & sometimes die without one. It is said that if a person dies without a will, it is called “intestate”. It also includes the property of a person which was inherited by his or her legal heir. If there are two or more legal heirs, they can then request to divide the property in the future by using a relinquishment deed, which enables a smooth transfer of property.A relinquishment deed is a legal instrument in which a legal heir renounces his or her legal rights to “inherited property” in the interest of other heirs. The relinquishment deed transfers title when a person passes away intestate. The co-owner or another legal heir of the same property will receive the shares that the legal heir (by inheritance) would have received. Either for consideration or without consideration, a relinquishment deed will be assigned. On the other hand, the transfer cannot be relinquished or renounced unless the parties are co-owners of the property. In this article, we will discuss the validity of the relinquishment deed for immovable property.

Validity

The Relinquishment deed for the immovable property will be considered valid if the conditions listed below are fulfilled. These situations are as follows:

  • In order to relinquish the property, the person must be a co-owner.
  • Other than the father’s self-acquired property, which has no membership rights during the father’s lifetime, the property to be given up should be Joint Hindu Family property.

Is It Possible to Challenge?

In general, a registered deed cannot be cancelled only on the grounds that the person transferring his or her claim to the property has changed his or her mind.  Only when there is a lack of agreement may it be cancelled. To revoke a relinquishment deed, the parties involved, i.e., the person whose favour it was relinquished and who relinquished his property, must agree to the cancellation. If the property beneficiary is unwilling to cancel the relinquishment deed, you can also go to the Civil Court to settle up. According to the Limitation Act, a Relinquishment deed can be challenged within three years.

Key Components

Registration Of Deed

In accordance with “Section 17 of the Registration Act, 1908,” relinquishment deeds must be registered at the concerned sub-registrar’s office.

Legal Rights

Through the relinquishment deed, an heir can transfer or relinquish his constitutional claim to the inherited property (legal document).

Consideration

Relinquishments can be made with or without consideration (using a Release Deed).

Irrevocable

The release is intended to be irrevocable by nature, even if the relinquishment document is executed without any consideration. If in doubt, the property must be owned by more than one person in order to be relinquished legally.

Benefits

Seamless Transfer

When a property is jointly owned then a relinquishment deed is in charge of ensuring a seamless handover.

Secure Transfer If No Will

Relinquishment deeds help in the transfer of property in the event of death when there is no will left by the deceased person (or intestate).

Other Heirs

A relinquishment deed enables one legal heir to give ownership of an inherited asset to other related legal heirs.

 Documents Required

  • Property Legal Documents
  • Registered Document
  • A Written Document Stating Intentions
  • Details of Co-owners
  • Particulars required for a Release Deed
  • Name of Releasor, Age, Address
  • Name of Releasee, Age, Address
  •  description of Property
  • Details of the consideration, if any.
  • Aadhar Card, ID Proofs, such as Passport, etc
  • PAN card of both parties for the execution of the Relinquishment Deed.
  • At the time of the Relinquishment Deed’s execution, you will need two witnesses.
  • Additional Agreements you might have Made Regarding the Property
  • Other materials you may need according to state requirements.

 Essential terms that need to be present in a Relinquishment deed

Title Description

The opening part of the document should contain the words “relinquishment deed/deed” and information on the “date of creation.”

Executant And Releasor

The individual who creates the relinquishment deed is referred to as a releasor/executant since the rights in property are to be released by execution of the instrument.

Releasee

The individual who receives the relinquished titles, rights, or shares is known as a releasee.

Property Details

The information about the entire property is crucial (name of the last owner).

Purpose

A relinquishment deed should state the main purpose.

Heir Particulars

The names of all living heirs to that property must be listed, preferably in a table with their information and their connection to the deceased “absolute owner.”

Share Particulars

Heirs will possess the property in accordance with the applicable “Succession Act”

Relinquishment

The most significant provision of a relinquishment document is the release by the  releasors/executants of their “shares in the property” in favour of the releasee.

Authorised Signatures

The document must be signed by both the releasee and the executors.

What is the Registration Procedure?

According to Section 17 of the Registration Act of 1908, the Relinquishment Deed must be registered because the relinquishment deed is a legal document that transfers a legal heir’s constitutional rights in an inherited property in exchange for the kindness of other legal heirs,

The steps for registering are as follows. They are: 

  • Preparation and drafting are recognised as the very first step in the registration process. We suggest you speak with a lawyer who can draft the deed according to your needs.
  • This deed has to be printed on stamp paper for Rs 100. Every detail should be stated in the deed of the relinquished property.
  • Once the deed has been created, it must be presented to the sub-registrar of assurances in the jurisdiction where the property is located.
  • The registration charge for its Registration must then be paid. Since the Registration fee differs from state to state, it is typically between “Rs 100-Rs 250” in every state.
  • Both parties and two witnesses must make an appointment (visit physically) at the sub-registrar office on the designated day for the deed’s registration. Bring all the required documentation with you for the registration and verification processes.
  • A registered Deed can be obtained after a week after the above-listed procedure is done.In circumstances where a person is physically incapacitated and unable to visit the sub-registrar office, a provision has been created under “Section 31 of the Act” sanctioning the Registering officer. It makes it easier for those who are physically impaired to visit anyone who wants to present a relinquishment deed for registration at their home. The unregistered relinquishment deed must be recognised as invalid and inadmissible for a legal challenge.

Conclusion

After reading the information above, we hope that it is clear that a release deed, often referred, is a valid document that is accepted by government in India. Our experienced legal team at Vakilsearch can help you draft a relinquishment deed and keep you away from the hassles of hefty paperwork in just a few clicks. Get in touch with us today!

Also, Read:

 

0

Back to top button

Adblocker

Remove Adblocker Extension