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Suman (HR)     19 August 2013

Relinqiuishment deed queries

Hi,  One of my friends parents died without making any will.  Now he wants to transfer bank balance of his father in his own name. He has submitted all the documents now the bank is asking for Relinquishment Deed from him.  Kindly let me know what's the purpose of this deed.  How we can get it as early as possible.  Whats the cost of getting this Deed.  He along with his two sisters are the only survivor's/Legal heirs and for this he has given the Survivor Certificate to the bank in original.

Kindly reply at the earliest and help me.


 7 Replies

Advocate Vishnu (Advocate)     21 August 2013

The bank wants the relinquishment deed signed by your friend's sisters. The reason is upon the death of your friend's father, his legal heirs are his wife,son and daughters. Now if your friend wants to transfer the money into his a/c from his father's a/c , the bank will seek a relinquishment deed/ no objection certficate from other legal heirs. Otherwise, the bank will have to equally split the money amongst the legal heirs. 

Suman (HR)     21 August 2013

Does the No Objection Certificate will also work in this rather than giving Relinquishment Deed. 

Advocate Vishnu (Advocate)     22 August 2013

No,the banks will generally not accept a no objection certificate. A relinquishment deed is a registrable instrument and this will be accepted by your bank.

Suman (HR)     22 August 2013

Kindly tell me how we can get it registered and from where?

Rasmiranjan Mohapatra (Asst. Manager( Law))     22 August 2013

The Relinqushment deed can be registered in local sub Registry office where other deeds like Sale deed etc. are registered. But at the time of registration of the deed you along with your sisters are to be remain present.

Suman (HR)     22 August 2013

Can you help me with the list of documents that we need at the time when we go for registering the Relinquishment Deed.

Rasmiranjan Mohapatra (Asst. Manager( Law))     23 August 2013

While going for registration, all of you should take the Voter iD Cards,2nos of passport photographs each.But before going for registration, you should consult a lawyer/Deed writer for preparation of the Relinquishment Deed. At the time of preparation of the deed, the details of  bank account, balance, name and adress of all of you etc. are required. The deed is to be prepared on stamp paper of requisite value which the Deed Writer/Advocate shall advise. At the time of registration of deed Govt. fees of certain amount is to be deposited in the office.   

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