1. Yes, you can relinquish your shae in favour of your brother.

2. However such relinquishment occurs without any monetary transaction.

3. Hnece to get money out of your share you need to execute and register a deed of sale where consideration amount for the transfer of share is mentioned which can be consisting of both present and future transaction of money.

4. Gotst deed can also be done but again you can not mention any monetary transaction therein.

5. Though sale deed is best suited but it attracts more stamp duty then the release or gift deed.

6. If he pays the whole amount ( unofficially)then go for gift deed.

1. If he wants to buy your share but pay you in installments then you can execute a sale deed in his favour. Alternatively, a gift deed can also be executed, which does not attract tax. A suit for cancellation of the sale deed can be filed if there is default but a relinquishment deed will be difficult to annul in the court.

2. Relinquishment means extinction of rights or interest in property. It may not amount to transfer of property if it is in favour of a person having interest in property. It amounts to transfer if it is in favour of a person who has no interest in the property. The stamp duty on relinquishment deed will have to be paid when it is presented for registration.

3. The relinquishment deed will attract tax, better execute a gift deed.

1) if ypou execute relinquishment deed you will have no share in property

2) there is no guarantee that borhter will honour his commitments of making payment over period of 15 years

3) ask brother to start saving as and when he has funds relinquish your share to him

4) dont sign any agreement now

Dear Concerned,

1. No a future date relinquishment deed is not advisable as you are relinquishing the share without any financial transaction on papers - you must do an Agreement to sell stating the staggered payments that are to be made and later pay the 3-4% stamp duty of transferring the property within family.

2. Yes any money you will received from sale of the property will be taxable.

Best of Luck

Gift deed or relinquishment deed would attract less stamp duty

2) sale deed attracts maximum stamp duty

3) stamp duty is state subject and varies from state to state

4) you have correctly summarised advice given to you

1. If your condition is that you shall relinquish your share only after receiving the final payment of your share then it will be considered as a sale deed and court fee and stamp duty will be charged accordingly.

2. Moreover, you register a relinquishment deed fixing future date of relinquishment, then you can not withdraw your said relinquishment if you do not get any payment after registering the said relinquishment deed.

3. You can go for sale deed and such gain from inherited property will not be charged by I.Tax department.

1. Relinquishment is without considerations.

2. On the question of stamp duty you have to consult a local lawyer as stamp duty is not uniform throughout India.