Relinquishment Deed

What is a Relinquishment Deed? (Overview)

A relinquishment deed is a legal document where a legal heir gives up his/her legal rights to inherited property in favor of other heirs. The relinquishment deed transfers ownership when the person dies intestate, and the legal heir (by inheritance) shall transfer their shares in favor of another legal heir, or co-owner of the same property. A relinquishment deed shall be transferred either for consideration or without consideration. However, in order for the transfer to be a release or relinquishment, the parties involved must be co-owners of the property.

What are the benefits of using a Relinquishment Deed (Benefits)

• A relinquishment deed provides for seamless transfer of property when it is jointly owned.
• A relinquishment deed helps in the transfer of property, in the event of a death and no will has been written by the deceased individual (or intestate).
• A relinquishment deed allows a legal heir to transfer ownership of his/her inherited property to other legal heirs.

Checklist for a Relinquishment Deed (Checklist)

Legal Document: It is considered to be a legally binding document, and hence used to relieve the legal rights of an heir from an inherited property to another heir.

Registered Document: It must be registered under section 17 of the 1908 registration act, to be considered as a legally valid document.

A Written Document: It must be a written document signed by the parties involved, in the presence of two witnesses.

Co-owners: It can only be used to transfer rights to an inherited property among co-owners, and not to a third party.

What is the Procedure For Drafting A Relinquishment Deed (Procedure)

he drafting of the Relinquishment deed would commence from when the required information is shared by the client. Once the information is shared, lawyers are assigned to the respective client and they stay in touch with him/her through mobile or email.

The charges paid by the client are inclusive of the following:

• First draft in 3-4 working days.
• Two iterations followed by the First Draft at the Client's convenience.

What is the Timeline for the first draft of A Relinquishment Deed (Timeline)

It takes approximately 3-4 working days to deliver the first draft of the Relinquishment Deed. However, it can also be delivered within 24 hours, on a priority basis, for which additional charges are applicable.

How Can We Help In Drafting A Relinquishment Deed

• The relinquishment deed is prepared by an assigned legal representative from Vakilsearch
• The deed is registered under section 17 of the 1908 registration act, to make it legally valid.
• A stamp paper is purchased and used for the registration process.
• The Vakilsearch’s legal representative will coordinate with the Sub-Registrar’s office to secure a date for the registration process. The registration fee is also paid.
• The parties involved in the relinquishment process arrives at the Sub-Registrar’s office to sign the deed, along with two witnesses.

Documents Required To Create A Relinquishment Deed (Documents Required)

• Particulars required for a Release Deed
• Name of the Releasor, Age, Address
• Name of the Releasee, Age, Address
• Property description
• If release on payment of consideration, then Details on consideration

FAQs on Relinquishment Deed

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