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Relinquish of Deed (Property Law)

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This query is : Resolved


Author : GOUTAM ACHARYYA

Posted On 07 December 2010 at 15:07

Sir,
Kindly clarify about Relinquish of deed. What meaning? Law about that?




Expert : R.Ramachandran

Posted On 07 December 2010 at 16:23

Dear Mr. Acharyya
You are LL.B. yourself. I don't expect such a basic question from you.



Expert : s.subramanian

Posted On 07 December 2010 at 20:06

yes



Expert : Advocate. Arunagiri

Posted On 07 December 2010 at 21:00

When somebody is relinquishing their rights over a property, this deed will be prepared.



Expert : Devajyoti Barman

Posted On 07 December 2010 at 22:51

yes



Expert : Kirti Kar Tripathi

Posted On 07 December 2010 at 22:58

YES.



Author : GOUTAM ACHARYYA

Posted On 08 December 2010 at 10:27

Thanks Mr R Ramachandran, Thanks Mr S Subramanian, Thanks Mr Arunagiri, Thanks Mr Devajyoti Barman and Thanks Mr Kirti Kar Tripathi.

I am appreciate your valuable reply.But Sir my first question -Is that any provision Only Rs.100 NDSP attested by Notary Public the relinquish of deed is accepted or not??? Stamp duty is required ?? One family mother,elder brother and younger was purchased a land. As per family settlement mother and younger brother relinquish his/her right over said land in separately make declaration over Rs. 100 NDPS and attested by Notary Public is that valid??



Expert : R.Ramachandran

Posted On 08 December 2010 at 11:35

Since in the Relinquishment Deed one person's interest in the immovable property would get extinguished and another man's interest in it would get created, the same is compulsorily registrable. Non-registration of Relinquishment Deed would be fatal.



Expert : Sri Vijayan.A

Posted On 08 December 2010 at 11:35

1.One co-owner can relinquish his interest, share in fvour of other co-owner.
2. It cant be relinquised in favour of third party, if it is to 3rd party, it is called as sale deed, gift deed, etc.
3.If it is within family, there is a concession on duty and fee. The value depends on the state govt.
4. In TN, the stamp duty is 1% of property value (Max Rs.10,000)
the regn fee is 1% (Max.Rs,2000)
5.The deed is also clled as release deed



Author : GOUTAM ACHARYYA

Posted On 09 December 2010 at 20:58

Thanks Mr. Vijayan.A . Now it is clear. One think Sir, If the Original khata no. 3 but wrongly written 2 ,The Deed was year of 2004.
Is that rectify?



Expert : Sri Vijayan.A

Posted On 11 December 2010 at 22:55

I dont know what is meant by khata. But the release/ relinquish can be rectified by a rectification deed.


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