How to give up right in property
Hitendra Jain
(Querist) 25 July 2014
This query is : Resolved
My Grandfather made a House. After my father’s Demise five members remain in family i.e. (1) Grand Father (2) Mother (3) I myself (4) Younger Brother 1 (5) Younger Brother 2
My grandfather wrote a will under which he gave me one third share in the house he made and other assets.
I do not want to take this and give it to my brothers. My grandfather denied to make this by changing or making another will.
My layer told me that I can make this by making a deed of relinquishment on a stamp of Rs. 1,000.00. No further stamp duty required because I am not owner of the property. This deed can be register in collectorate.
He told me that I can revoke this deed at any time after its registration and even if I made such deed my brothers while they will be the owner of the property can give me this property to me via gift / will.
I still have doubt
(1) Because I am not owner of the property and the owner is alive and free to give his property according to his discretion how I can write a relinquishment of title and if I made than what is the legal validity of such deed.
(2) I am living in that house with my family. If I wrote such deed then whether I have to leave the house because I abandoned the right in it.
(3) At this time stamp duty etc. is not required due to I am not owner of the property but whether it will be required to be paid at time of probate of the will.
I do not want to receive anything from the family assets then how I can do it if such relinquishment can not made or not effective.
Sourav Das
(Expert) 25 July 2014
agreed with the expert
Anirudh
(Expert) 25 July 2014
Dear Mr. Hitendra Jain,
I am quite happy that you are much more knowledgeable than a lawyer.
As you rightly understood, the WILL made by your grandfather in your favour will come into effect only after the life time of your grand father. Till such time, the WILL does not come into effect. As such, you are not at all the owner of the property. Therefore, the question of either you not wanting to have the property,or you trying to give it to your brother(s) etc., by making a relinquishment deed does not at all arise.
Even when the WILL comes into effect, and you become the owner of the property under the WILL, you will not be able to give the property to your brother(s) by means of a Relinquishment Deed.
You can only give it to them through a GIFT DEED.
As the time for doing all these things have not come yet, please wait, especially when you cannot do anything right now.
malipeddi jaggarao
(Expert) 25 July 2014
1. You are the not owner. The will come into force only after the demise of the testator. You will acquire rights only then. When you do not have any right at present, any proposal to leave/alienate/assign the property does not have any legal validity.
2. As per No.1, this does not arise at present.
3. At this time stamp duty... when you do not have a right, even spending Rs.1 is also waste. After the demise of the testator, when you become the owner of the property, if you wish to leave the property you will have to execute a gift deed properly stamped as applicable at that time. This is subject to restrictions in the Will if any.
4. Your idea is appreciable and thinking is pre-mature.
ajay sethi
(Expert) 25 July 2014
agree with Mr anirudh
T. Kalaiselvan, Advocate
(Expert) 27 July 2014
I too endorse the views of expert Mr. Anirudh n the subject query. It will be too early to make any decision about the property which is not yours yet, so wait for the Will to come into force.
Biswanath Roy
(Expert) 03 August 2014
Unless right to property accrues you cannot transfer your right ( which is action futuro)
prabhakar singh
(Expert) 03 August 2014
When the testator of WILL,the owner of property is alive,beneficiaries under the will have no right to transfer as'merely chance to inherit is not transferable'
