Is a registered deed required in this case?
Shanti sharma
(Querist) 17 January 2020
This query is : Resolved
Honourable Experts,
I need your valued opinion.
Our father passed away last month. My Brother and I are the legal heirs.
My brother was the nominee in all my fathers Bank accounts and he has already recieved the money in his account.
I wish to relinquish my claim to any money from my Father.
Do I simply give it in writing to my Brother or do I have create a gift deed on Stamp paper.
Does the same need to be registered also ?
Thanks,
Shanti
kavksatyanarayana
(Expert) 17 January 2020
This query is already replied. However, you have to give a simple letter to the bank authorities. either gift deed or relinquishment are not necessary.
Shanti sharma
(Querist) 17 January 2020
Thank you Kavksatyanarayana Sir.
However my Brother has already received the money into his Bank account as he was the nominee.
What I'm asking is that what do I need to do to relinquish my claim over the money so that the money exclusively belong to him legally?
With best regards
Shanti
Shailesh Kr. Shah
(Expert) 18 January 2020
give the letter to your brother that you will not claim this amount now or in future.
Shanti sharma
(Querist) 18 January 2020
So no registered gift deed or relinquishment deed required in this case?
Dr J C Vashista
(Expert) 19 January 2020
Just inform him (your brother) that you do not claim your share, there is no need to file any "gift" or "relinquishment" in favour of your brother. Let him enjoy the amount so received from Bank account of your father.
Shailesh Kr. Shah
(Expert) 19 January 2020
if you are going to gift deed/relinquishment deed, it attracts stamp duty, however, registration of gift deed is not required as per law.
Shanti sharma
(Querist) 20 January 2020
Since the money is already in my Brothers possession how do we show delivery?
T. Kalaiselvan, Advocate
(Expert) 26 January 2020
You can even orally relinquish your rights over his movable proeprty to your brother, however if he insists a letter in writing then you may execute a NOC expressing your willingness to forfeit you rights in the said property and have it witnessed by two witnesses which should solve the purpose.
There is no legal hassle by giving this in writing and having not registered the same.
