Relinquish of Deed
GOUTAM ACHARYYA
(Querist) 07 December 2010
This query is : Resolved
Sir,
Kindly clarify about Relinquish of deed. What meaning? Law about that?
R.Ramachandran
(Expert) 07 December 2010
Dear Mr. Acharyya
You are LL.B. yourself. I don't expect such a basic question from you.
Advocate. Arunagiri
(Expert) 07 December 2010
When somebody is relinquishing their rights over a property, this deed will be prepared.
GOUTAM ACHARYYA
(Querist) 08 December 2010
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??
R.Ramachandran
(Expert) 08 December 2010
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.
Sri Vijayan.A
(Expert) 08 December 2010
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
GOUTAM ACHARYYA
(Querist) 09 December 2010
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?
Sri Vijayan.A
(Expert) 11 December 2010
I dont know what is meant by khata. But the release/ relinquish can be rectified by a rectification deed.
