EVALUATING RELEASE/RELINQUISHMENT DEED
Querist :
Anonymous
(Querist) 09 February 2010
This query is : Resolved
Can a lady who owns self aquired immovable property independently relinquish the whole property by way of a registered DEED OF RELEASE/RELINQUISHMENT to her son instead of a GIFT DEED / SALE DEED just to avoid the burden of STAMP DUTY and REGISTRATION FEES as all states do not have any special nominal stamp duty and registration like karnataka for gifts within the family to aviod future family disputes? Is it techinally allowed inthe sub registrar office? Does it carry the same weightage as a gift/sale Deed ?. IF NO THEN what is the other alter native to avoid stamp duty etc other then the future planning through will ? THANKS
Raj Kumar Makkad
(Expert) 09 February 2010
Relinquishment/Release-deed can be got executed in maximum states where the immovable property is ancestral and the beneficiary is related with blood relations. This facility has been provided because practically no change is going on rather change of the ownership in the same family. This is not meant to avoid stamp duty rather it is the policy of the state.
In he given facts, mother can make will in favour of his son or can relinquish through court decree by way of family settlement.
B K Raghavendra Rao
(Expert) 09 February 2010
Relinquish or Release Deed is executed by one of the co-parceners or co-owners in favour of other owners. But, a relinquish deed or release deed cannot be executed by a single and sole owner in favour of her son. It does not amount to relinquishing of her right but would amount to transfer of property. Gift deed is the only best solution under the circumstances explained by you. Look into the stamp duty and registration charges in the state in which the property is situate.
Ashok Yadav
(Expert) 10 February 2010
In the given facts Release deed will not be allowed in Sub Registrar office. You should go for court decree of family settlement.
vinaykala
(Expert) 22 July 2011
BUT YOU HAVE NOT ENLIGHTENED ON THE REGISTRATION COST FOR REGISTERING A RELINQUISHMENT DEED INVOLVING IMMOVABLE PROPERTY WITHOUT CONSIDERATION AMONG FAMILY MEMBERS..
THE IMMOVABLE PROPERTY IS IN U.P.
WE UNDERSTAND THAT THE DEED CAN BE WRITTEN ON A RS HUNDRED STAMP PAPER, BUT WHAT ABOUT THE REGISTRATION FEE IN OUR STATE.
DO ENLIGHTEN SIR
MINA KALA JULY 22
vinaykala
(Expert) 22 July 2011
i understand that mr raj kumar makkad a celeberity has stated somewhere that the cost of registration of a relinquishment deed among family members , i assume of immovable property , is nominal.
CAN SOMEONE ENLIGHTEN ME WHAT WOULD BE THE REGISTRAR FEE FOR REGISTRATION OF A RELINQUISHMENT DEED IN THE STATE OF UTTAR PRADESH
MINA KALA JULY 22,11
vinaykala
(Expert) 22 July 2011
i understand that mr raj kumar makkad a celeberity lawyer of great experience has stated somewhere that the cost of registration of a relinquishment deed among family members , i assume of immovable property , is nominal.
CAN SOMEONE ENLIGHTEN ME WHAT WOULD BE THE REGISTRAR FEE FOR REGISTRATION OF A RELINQUISHMENT DEED IN THE STATE OF UTTAR PRADESH
MINA KALA JULY 22,11
R.Ramachandran
(Expert) 22 July 2011
Dear Vinaykala (Mina Kala)(Anonymous),
It is absolutely true that Relinquishment Deed involves very nominal stamp duty and registration charges compared to Gift Deed or Sale Deed.
But how much it costs depends and differs from State to State.
Therefore, it would be adviseable for you to visit the Sub-Registrar's office at Lucknow and ascertain from that office. All other methods of ascertaining would only be a guess work since without practically working in that particular State, it would not be possible to give an accurate answer to your query.
