• Relinquishment deed

Hi sir we are 4 brothers, we want to partition our late parents(father and mother both were died) property. One of my brother wants to take amount instead of his share , and now I want to take his share by paying amount to him, 
 Is this acknowledgement of amount can be written(drafted) in a relinquishment deed or not .
 If it is not possible to acknowledge the amount that I am paying to him , it looks that I am taking his share by not paying any amount . 
Can you help me in this . (My brother says that no one can write acknowledgement of money that takes place in this )
In this case what type of registration can I use ?
Thank you
Asked 7 years ago in Property Law
Religion: Hindu

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7 Answers

1.If you do not wish to mention the price of share then make a gif deed to get his share.

2. An0ther option is to make mutual partition deed whereby the co sharers can release their share mentioning receipt of Owelty money which need not be specified.

Devajyoti Barman
Advocate, Kolkata
23198 Answers
510 Consultations

A relinquishment deed may be made for consideration

2) it can be mentioned in deed that your brother is relinquishing his share in property for X consideration

Ajay Sethi
Advocate, Mumbai
96803 Answers
7810 Consultations

Hello,

First Divide the property amongst 4 brother and then you purchase the share of property that the other brother is willing to give and pay the money against the same.

Regards

Anilesh Tewari
Advocate, New Delhi
18090 Answers
377 Consultations

Is this acknowledgement of amount can be written(drafted) in a relinquishment deed or not .

this is called mutual settlement and no need to get it registered but if settlement deed has been registered then its value increases and you can enforce that deed if other party trying to deviate.

Shivendra Pratap Singh
Advocate, Lucknow
5127 Answers
78 Consultations

If it is not possible to acknowledge the amount that I am paying to him , it looks that I am taking his share by not paying any amount .

you should mention the amount which has been paid by you because if consideration is mentioned then court shall presume that no undue influence was caused by you and you can easily enforce this deed. you should register the deed under section 17 of the registration act.

Shivendra Pratap Singh
Advocate, Lucknow
5127 Answers
78 Consultations

Hi, all of you entered into partition deed in which you can mentioned in the deed of partition that you have taken his share by paying the amount and he has release his share in favor of you.

2. Or other wise all the brother has to partitioned the properties and after the deed of partition your brother can gift his share to you.

Pradeep Bharathipura
Advocate, Bangalore
5611 Answers
338 Consultations

If one of your brothers is willing to relinquish his rights in the property in your favor by accepting the value of the share of property, there is nothing wrong in mentioning the same in the registered release deed.

The consideration received can very well be mentioned in the registered release deed.

In fact that would be proper it is mentioned in the deed so that the future litigation can be avoided.

T Kalaiselvan
Advocate, Vellore
87004 Answers
2335 Consultations

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