relinquishment deed can be executed by father to relinquish his right t, tile , interest in flat
2) it is irrevocable
3) it should be duly stamped and registered
4) you can do partition deed later
In continuation to previous query on share release to son and daughter. 1. We have legal heir certificate in the name of father, son and daughter. 2. For father to release his share, can release / relinquishment deed is applicable when property is not in our titles? 3. Can release deed is revocable? On what conditions? 4. Can we get release of his share and register it first. Then do a partition deed?
Need answers with respect to Chennai jurisdiction and applicable laws. What is the difference between release, relinquishment and settlement deed? We wanted first father share to be released 50:50 as agreed and then partition the property by two. There are money liquid issues between son and daughter. Is that possible to collect during partition after father releases his share to us? Whether we can claim through property land if money is not settled?
relinquishment deed can be executed by father to relinquish his right t, tile , interest in flat
2) it is irrevocable
3) it should be duly stamped and registered
4) you can do partition deed later
release deed is a legal document used to renounce one’s claims against a specified property.
Relinquishment deeds are legal documents by which a person can give up on his or her legal rights over a property to someone else with their consent.
there is no major difference between release deed and relinquishment deed
1. Yes the release deed is applicable for father's share
2 It cannot be revoked unilaterally.
3. Yes you can get a release done and then get same registered.
See release and relinquish are same while settlement is settling the family property.
Yes money issue can be dealt after share is relinquished.
Money cannot be claimed through the land for same different option of recovery is there.
Release deed is irrevocable and executes for immovable property. Share can be transfer by mere gifting. No registration required.
release, relinquishment both are same.
and settlement deed - distribution of property by owner to his family member.
Partition will effect of property in which release deed will effect.
1. Only the sole owner or co sharer can release his share. Release of share can be made only in favour of co sharer. if the beneficiary does not have share in the property then the owner will have to make deed of gift.
2. Deed of release and relinquishment are both the same thing where settlement deed is different.
3. In release deed share is relinqished while through settlement deed shares are modified, altered or even gifted.
4 For movable assets deed of gift is enough which doe snot require registration.
Relinquishment deed can be executed by a legal heir who has share in the property. Settlement deed is similar to relinquishment deed but in Settlement deed share of every heir is determined and settled. You dont have to execute all the deeds. If you need a partition deed execute that. You need to set your priority before executing the same. All deeds attract stamp duty
Relinquishment deeds are legal documents by which a person can give up on his or her legal rights over a property to someone else with their consent. On the other hand, a deed of release, also known as a deed of reconveyance is a legal document used to renounce one’s claims against a specified property. A deed of release can be said to completely release the parties from the previous obligations. One cannot find a major difference between the two. The context of using the terms may vary at times but the actual meaning of the two terms are fundamentally the same.
The father being a co-sharer, can execute a registered release deed relinquishing his rights in the property.
This can be done even before partition in favor of other legal heirs.
The registered release deed cannot be revoked except by a judgment of a court of law.
Father can execute a registered release deed relinquishing deed in favor of other legal heirs.
Settlement deed is that after acquiring his share in the property, he executes registered settlement deed in favor of anyone of his choice with or without any condition.
Registered release deed may be executed in return of any consideration for this act.
Partition of property can be drawn after the said release deed.
In registered partition deed the partition of movable properties and the mutually agreed conditions therein also can be drawn which will remain forever until they go for any rectification at a later date.
Dear
It your choice how you want to settle the money issue between you and what method will be convenient to both of you.