What is a relinquishment deed?
Relinquishment deed is a legal document or an instrument according to which individual releases or gives up his rights of an heir in an ancestral property for another legal heir or co-owner of the property. When a person dies intestate, his property is divided among his legal heirs. In the case where an heir to the inherited property wants to give up his rights to another heir of the property i.e., son, mother-daughter, brother etc, a Relinquishment Deed may be formed.
Important features of Relinquishment deed
• A Relinquishment deed may be formed for a movable or an immovable property and can be executed with or without consideration.
• It can only be executed in favour of a legal heir of the Joint Hindu Family and not a third person.
• The deed is irrevocable. It can only be cancelled if it is made without free consent and under coercion, mistake or fraud.
• A Relinquishment Deed must be in writing and should be registered.
Charges in Delhi
For a Relinquishment deed, stamp duty is 6% in the case of men and 4% in the case of women. The stamp duty should be paid through Collector of Stamps/SDM.
Registration fee of a Relinquishment Deed is 1% of the total value of Deed along with Rs. 100/- pasting charges.
Who pays Stamp Duty?
In the case of Relinquishment deed, the stamp duty is paid by the executant i.e., the person who transfers his interest and right in the certain property to the co-owner of the property.
Registration Procedure
1. The first step to register a Relinquishment Deed is to get an e-stamp paper from the nearest Stock Holding Corporation of India Centre Ltd. (SHCIL) or their Authorised Collection Centre. The address of the nearest Centre can be viewed on the website of SHCIL- www.shcilestamp.com. E stamp paper can also be downloaded from the aforementioned website.
2. Once the e-stamp is downloaded, an appointment is to be made for visiting the office of the Sub-Registrar. Appointment can be made through the website 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 obtain 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 go to the biometric division for finger-printing and photographs.
7. The registration process is now completed; the parties can take their receipt.
Registration Charges in Haryana
Sale/conveyances- @ 6% in Rural areas and @ 8% in urban areas.
Gift deed.- 3% in Rural areas and @ 5% in urban areas.
Leave a Comment
Previous Comments