Article explains What is a relinquishment deed, Important features of Relinquishment deed, Charges in Delhi and Haryana for relinquishment deed, Registration Procedure for relinquishment deed, Who pays Stamp Duty in case of Relinquishment deed.
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What is a relinquishment deed?
Relinquishment deed is a legal document or an instrument according to which individual releases or gives up his rights of an heir in an ancestral property for another legal heir or co-owner of the property. When a person dies intestate, his property is divided among his legal heirs. In the case where an heir to the inherited property wants to give up his rights to another heir of the property i.e., son, mother-daughter, brother etc, a Relinquishment Deed may be formed.
Important features of Relinquishment deed
- A Relinquishment deed may be formed for a movable or an immovable property and can be executed with or without consideration.
- It can only be executed in favour of a legal heir of the Joint Hindu Family and not a third person.
- The deed is irrevocable. It can only be cancelled if it is made without free consent and under coercion, mistake or fraud.
- A Relinquishment Deed must be in writing and should be registered.
Charges in Delhi
For a Relinquishment deed, stamp duty is 6% in the case of men and 4% in the case of women. The stamp duty should be paid through Collector of Stamps/SDM.
Registration fee of a Relinquishment Deed is 1% of the total value of Deed along with Rs. 100/- pasting charges.
Who pays Stamp Duty?
In the case of Relinquishment deed, the stamp duty is paid by the executant i.e., the person who transfers his interest and right in the certain property to the co-owner of the property.
Registration Procedure for Relinquishment Deed
1. The first step to register a Relinquishment Deed is to get an e-stamp paper from the nearest Stock Holding Corporation of India Centre Ltd. (SHCIL) or their Authorised Collection Centre. The address of the nearest Centre can be viewed on the website of SHCIL- www.shcilestamp.com. E stamp paper can also be downloaded from the aforementioned website.
2. Once the e-stamp is downloaded, an appointment is to be made for visiting the office of the Sub-Registrar. Appointment can be made through the website of the Revenue Department http://revenue.delhi.gov.in or by visiting the office of the sub-Registrar.
3. On the day of the appointment, carry your appointment slip and visit the sub-registrar’s office and obtain your swipe card from the reception to enter facilitation centre.
4. When your turn comes, present the document to the Facilitator and follow any suggestions or changes made by him.
5. After visiting the Facilitator, the parties to the Relinquishment deed must be present before the Sub-Registrar.
6. Once the documents are accepted by the sub-Registrar, parties must go to the biometric division for finger-printing and photographs.
7. The registration process is now completed; the parties can take their receipt.
Registration Charges in Haryana for Relinquishment deed
Sale/conveyances- @ 6% in Rural areas and @ 8% in urban areas.
Gift deed.- 3% in Rural areas and @ 5% in urban areas.
Author Bio
Hi,
My sister is planning to buy a flat with co-borrower (for loan purpose) with her MARRIED Daughter. Please clarify once the loan amount settled whether MARRIED Daughter can give RELEASE DEED in favour of my sister. Please clarify, Thanks
Who should purchase stamp paper in the case of relinquished deed.
Relinquishment deed in jaipur rajasthan charges
What is the rate of stamp duty on Relinquishment Deed in Uttar Pradesh and registration charges .
Regards
How much relinquish registration and Stamp duty charges in Gurgoan for apt? Pls advise.
Land is owned in the joint names of Mr. A & B. B has expired. Can B’s wife relinquish her share to A’s brother ? Or can A relinquish his share to B’s brother ?
Hi! Which document is required to be drafted to remove the name of the co-owner (younger brother) for a freehold registered apartment. This is not an inherited property (this property has been purchased by me and had to add brother name in order to get loan, however I have paid back the loan now). Please advise.
Your brother needs to gift his share, if already list in the original registration document. Otherwise it woud be 50% of the property vaue (Original Cost+Registration+Cost of improvement e.g. construction etc.). Or circle value, whichever is higher.
The gift is considered as transfer and therefore stamp duty is applicable for the transfer value his share in the value of property. Since is he is your brother, gift tax may not be applicable. Otherwise 30% of value of his share has to be paid as gift tax.
Another option (more popular) is that he writes an irrevocable will for his share in the property in favour of you and your legal heirs. And get the will registered. Since this method has been misused to avoid paying registration charges, understand that some restriction/taxes may be applicable in your state.
Suggest that you may double check the appicability of taxes and registration charges with a practicing CA for both the cases.
What is the registration fee for relinquishment deed in Uttar Pradesh
need to know the registration fees rates and stamp duty charges in gurugram haryana
For a Relinquishment deed in delhi, stamp duty is Rs.100 Only.
Registration fee of a Relinquishment Deed is 1000 along with Rs. 100/- pasting charges.