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Relinquishment Deed

A deed of relinquishment is a legal instrument through which a co-owner voluntarily surrenders their ownership rights in a property to another co-owner or heir. This formal agreement effectively waives the relinquishing party’s claim to the property, often to streamline ownership, resolve disputes, or facilitate transfer processes. It serves as a clear and binding document that ensures the transfer of rights is recognized legally.

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Why Should I Use Auriga Accounting For Relinquishment Deed ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Relinquishment Deed.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for Relinquishment Deed

Complete your Certificate

Your Relinquishment Deed is Done

Overview
Objectives
Benefit
Documents
Procedure

Overview - Relinquishment deed

A relinquishment deed is a legal instrument through which a co-owner voluntarily waives their rights or share in a jointly owned property in favor of another co-owner. This document is often employed in family settlements, particularly in instances of inherited property, to prevent potential future conflicts and ensure clear transfer of ownership.

This document facilitates a seamless and legally binding transfer of ownership rights while ensuring clarity in property records. Officially recording the transfer safeguards the interests of all parties involved. In this article, we discuss the purpose, procedures, and significance of a relinquishment deed in property transactions.

Objectives of relinquishment deed

A relinquishment deed is a crucial document in property transactions. Its key objectives include:

  1. Establishing Clear Ownership: The primary purpose of the deed is to explicitly specify who holds ownership of the property. By relinquishing certain rights, the current owner facilitates a clear and unambiguous transfer of ownership to the new sole owner, ensuring transparency in property records.

  2. Preventing Future Disputes: Properties with multiple owners are often prone to disagreements. This deed helps mitigate such conflicts by formally documenting the relinquishment, thereby preventing the person surrendering their rights from claiming any future interest in the property.

  3. Facilitating Smooth Property Transfer: The deed streamlines the transfer process, enabling co-owners to transfer their rights efficiently. It helps avoid lengthy and complicated buying and selling procedures, making property transfer quicker and more straightforward.

Benefits of relinquishment deed

  • Seamless Property Transfer: Relinquishment deeds simplify the transfer of property ownership by providing a clear legal framework for giving up one’s share, ensuring the process is smooth, accurate, and efficient.

  • Legal Protection: These deeds offer legal security to all parties. Once registered, the transaction is legally binding, offering peace of mind to both the relinquishing party and the recipient.

  • Cost-Effective: Relinquishment deeds can reduce costs associated with property transfer, often incurring lower stamp duty compared to sales or legal disputes, making them an economical choice.

  • Faster Process: Transactions involving relinquishment deeds are generally quicker and more straightforward, with well-defined legal procedures and registration facilitating timely ownership transfer.

Documents Required for Relinquishment Deed

  1. Proof of Identity of Both Parties: Aadhar Card / Passport / Voter ID

  2. PAN Card of Both Parties

  3. Original Property Documents

  4. Passport-sized Photographs of Both Parties

  5. Details of Co-owners (if applicable)

  6. Property Description: [Provide detailed description of the property, including location, plot number, survey number, area, and any other relevant details]

  7. Declaration of Relinquishment: The undersigned hereby relinquishes all rights, titles, and interests in the above-mentioned property in favor of [name of the remaining owner or party], and confirms the transfer of ownership accordingly.

registration process for Relinquishment deed

  1. Draft the Deed: Prepare the relinquishment deed in the prescribed format. It is recommended to seek legal assistance to ensure accurate and compliant drafting.
  2. Pay the Stamp Duty: Prior to registration, affix the applicable stamp duty on the deed, which varies based on jurisdiction and the property’s market value.
  3. Visit the Registrar’s Office: Both parties involved (the relinquishing party and the recipient) should appear in person at the local Sub-Registrar’s Office, bringing the original documents and two witnesses.
  4. Verification and Registration: The Sub-Registrar verifies the documents, and once satisfied, registers the relinquishment deed, completing the transfer process.

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