Registering a relinquishment deed
Anant Subramaniyam
(Querist) 06 January 2019
This query is : Resolved
Me and my wife has a joint property owned in Thane district, Maharashtra. Since we are getting seperated through a mutual divorce, I wish to relinquish my rights over the property for a monetary exchange. Will this attract registration fees and stamp duty? If yes, what will be the approx charges for this, considering I'm relinquishing the rights for 12 lac ruppees? Is there an exemption in the stamp duty and registration for husband to wife transfer?
Thank you!
Dr J C Vashista
(Expert) 07 January 2019
It will be Gift deed and not relinquishment deed, as stated by you, for which appropriate stamp duty as applicable (state subject) has to be paid.
Anant Subramaniyam
(Querist) 07 January 2019
Since there is a monetary exchange, can a gift deed be registered? Is the stamp duty a fixed amount or does it depend on the property market value? Thanks!
Anant Subramaniyam
(Querist) 07 January 2019
Since there is a monetary exchange, can a gift deed be registered? Is the stamp duty a fixed amount or does it depend on the property market value? Thanks!
Anant Subramaniyam
(Querist) 07 January 2019
Since there is a monetary exchange, can a gift deed be registered? Is the stamp duty a fixed amount or does it depend on the property market value? Thanks!
Anant Subramaniyam
(Querist) 07 January 2019
Since there is a monetary exchange, can a gift deed be registered? Is the stamp duty a fixed amount or does it depend on the property market value? Thanks!
kavksatyanarayana
(Expert) 07 January 2019
Yes. it is a Gift deed not relinquishment deed as there is monetary exchange. For Gift in favour of family members, stamp duty payable is maximum of 1% on the market value in many states. so consult local registrar office, as the stamp duties vary from one State to other State.
Kumar Doab
(Expert) 07 January 2019
Your own LOCAL counsel is to help you and insert fitting narration in settlement/MoU etc .
There might be some relaxations in your state fro gift amongst relatives....
You may confirm from LOCAL SRO..
Dr J C Vashista
(Expert) 08 January 2019
When there is some monetary exchange/ transaction it looses the tag/term of "gift".
However, share of a person can be relinquished if s/he has inherited intestate property.
Consult a local prudent lawyer for better appreciation of facts / documents, guide and proceed.
