sai kiran (i am a software engineer) 02 December 2011

Can i relinquish my property to some third party?

Hi,

we are 3 children, where my father has given a registered will, where it says that we 3 will be the owners of the house after our father's& mother's demise.

So now both of our parents are expired and now we want to sell this combined property, so now we want to register a relinquishment deed with the third party (some outsider) who is willing to buy our property by giving us banker's cheques to all of us equally.

So as i am not well versed with this legality, i need some experts suggestion suggesting that can we enter into the relinquishment deed with the third party other than our family members?

and is it safe to take a bankers cheque ? or shall we ask for RTGS transfer? of can we take a DD?

So Thanks in advance, for the suggestions that i am expecting from your forum.

Thanks & Regards,

SaiKiran V

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3 Replies

Vakeel Civil Court (Director) 02 December 2011

sell the property by executing a sale deed. if you are taking any part by cheque/banker cheque etc.. the same may be mentioned in the sale deed along with the cheque no., date, bank drawn.

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sai kiran (i am a software engineer) 02 December 2011

what will be the difference between a relinquishment deed and a sale deed

Advocate Vishnu (Advocate) 02 December 2011

Dear Sairam,

A relinquishment deed is always executed only between family members.In a relinquishment deed one legal heir relinquishes his/her right in favour of other legal heirs. In your case, the three legal heirs are eligible to jointly sell the property to a thrid party .