Relinquishment deed
A Kumar
(Querist) 10 April 2014
This query is : Resolved
My sister is a widow and has 2 sons, Both have been living abroad. She and her sons executed a relinquishment deed and gave their parental property right to her-widow mother(since both the sons were abroad)
Now both are coming back to India and their mother wants to reverse the relinquishment deed. Just wanted to know how much time, fees and processing it would require to do so.
Please help!
Devajyoti Barman
(Expert) 10 April 2014
It can not be reversed anymore unless the beneficiary so agrees.
ajay sethi
(Expert) 10 April 2014
mother should make a will bequeathing property to both sons . once deed of relinquishment has been made sons no longer ahve any interest in the property
Advocate Bhartesh goyal
(Expert) 10 April 2014
Mother has only option either gift the property to her sons or make will deed in favour of sons.
A Kumar
(Querist) 10 April 2014
Thanks for your postings however I should have mentioned that mother (my sister) herself wants to reverse it since her sons are coming and looking for options how to do that.There is no dispute in this matter from any of the parties.
We want to know what is the process, fees and duration to do that.
Devajyoti Barman
(Expert) 10 April 2014
Then it is possible. Will s most cost effective but can be put in force only after death of the mother.
Gift is other option.
Rajendra K Goyal
(Expert) 10 April 2014
She can gift the property or can make a will. For stamp fee for gift consult local lawyer.
A Kumar
(Querist) 10 April 2014
So as you mentioned The relinquishment deed cannot be reversed???
We thought its a simple thing as mother wants to reverse the document.
Can you please tell me how much time usually it takes to do so and expense? Would really appreciate an answer to this.
Thanks
Advocate. Arunagiri
(Expert) 10 April 2014
If son wants to give property to his mother, he can give by way of settlement. The maximum Stamp may be Rs.10,000/-.
But, dont claim it reversing the relinquishment deed. It is a settlement deed.
A Kumar
(Querist) 10 April 2014
Sons did sign a document giving their property to their mother saying that she could deal/act behalf of them (as they were going abroad) if parental property would be settled(sold).
Now issue is that the tax implications, once property is sold will only come on the mother and the sons would not be able to take share and so their tax planning would be affected.
Also, earlier they were suggested that the relinquishment deed can be challenged on certain grounds (wrongful advise as only a Power of attorney would have been enough instead of relinquishment as main reason was for mother to act on behalf of sons) and as all parties are willing (mother and both sons), the court can order it terminated.
Is this possible?
Please help.
A Kumar
(Querist) 10 April 2014
Any help/inputs on above would be greatly appreciated as there are multiple differing opinions on the same.
Devajyoti Barman
(Expert) 10 April 2014
There is no difference on the opinions above. Nothing to add more.
Contact a local lawyer to know the expenses.
Anirudh
(Expert) 10 April 2014
Dear Mr. Kumar,
Whatever happened has happened i.e. the sons have given relinquishment deed (whether on wrong advice or right advice etc., will be of no help now). On the basis of such a Registered Relinquishment deed, the property appears to have become the absolute property of the lady (i.e. mother of the two sons).
In case the property has to be given back the following are the ways:
(1) Gift Deed - it will involve huge stamp duty (normally it will be treated as equivalent to normal conveyance/sale deed).
(2) WILL - it will take effect after the death of the person making the WILL.
(3) Settlement Deed - this will come into force immediately. Cost effective. In Tamilnadu it is 4% value of the property but subject to a maximum of Rs.10000/-
Relinquishment is not an available option at all in the facts of the case. Relinquishment is possible only if the other parties have any existing interest in the property. In your case, except the mother, the other two sons do not have any interest in the property. Therefore, relinquishment is not at all an option.
