RELINQUISHMENT DEED
What is a relinquishment deed?
Relinquishment deed may be a legal instrument or an instrument consistent with which individual releases or gives up his rights of an heir in an ancestral property for an additional legal heir or co-owner of the property. When an individual dies intestate, his property is split among his legal heirs. within the case where an heir to the inherited property wants to offer up his rights to a different heir of the property i.e., son, mother-daughter, brother etc, a Relinquishment Deed could also be formed.
Important features of Relinquishment deed
• A Relinquishment deed could also be formed for a movable or an immovable property and may be executed with or inconsiderately .
• It can only be executed in favour of a legal heir of the Joint Hindu Family and not a 3rd person.
• The deed is irrevocable. It can only be cancelled if it’s made without free consent and under coercion, mistake or fraud.
• A Relinquishment Deed must be in writing and will be registered.
Charges in Delhi
For a Relinquishment deed, stamp tax is 6% within the case of men and 4% within the case of girls . The stamp tax should be paid through Collector of Stamps/SDM.
Registration fee of a Relinquishment Deed is eighteen of the entire value of Deed along side Rs. 100/- pasting charges.
Who pays Stamp Duty?
In the case of Relinquishment deed, the stamp tax is paid by the executant i.e., the one that transfers his interest and right within the certain property to the co-owner of the property.
Registration Procedure for Relinquishment Deed
1. the primary step to register a Relinquishment Deed is to urge an e-stamp paper from the closest Stock Holding Corporation of India Centre Ltd. (SHCIL) or their Authorised Collection Centre. The address of the closest Centre are often viewed on the web site of SHCIL- www.shcilestamp.com. E stamp paper also can be downloaded from the aforementioned website.
2. Once the e-stamp is downloaded, a meeting is to be made for visiting the office of the Sub-Registrar. Appointment are often made through the web site of the Revenue Department http://revenue.delhi.gov.in or by visiting the office of the sub-Registrar.
3. On the day of the appointment, carry your appointment slip and visit the sub-registrar’s office and acquire your swipe card from the reception to enter facilitation centre.
4. When your turn comes, present the document to the Facilitator and follow any suggestions or changes made by him.
5. After visiting the Facilitator, the parties to the Relinquishment deed must be present before the Sub-Registrar.
6. Once the documents are accepted by the sub-Registrar, parties must attend the biometric division for finger-printing and pictures .
7. The registration process is now completed; the parties can take their receipt.
