• Renouncing my share of property

I am a US citizen holding OCI card. My mother, age 75 and a widow, lives in (Kerala) India is bedridden, and owns agricultural land in her name. My brother and I are her only children. My brother is an Indian citizen, and was enquiring with me about how to divide the land. I told him that I would like to renounce my share and give him everything so that he is the sole heir.

What documents are needed so that 
1. my renunciation of property is legally binding and my brother becomes the sole heir?
2. I am not held liable towards any events that would be incurred because of that inheritance.
Asked 1 year ago in Property Law from United States
Religion: Hindu
1) it is only if your mother dies intestate would you have 50 per cent share in property 

2) you can execute a gift deed in favour of your brother or execute relinquishment deed on your mother demise 

3) your mother can make a will in favour of your brother bequeathing property in your brother name 

4) in alternative she can execute gift deed in favour of your brother
Ajay Sethi
Advocate, Mumbai
23405 Answers
1230 Consultations
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1. During the lifetime of your mother none of her children has any share in the property, movable or immovable, owned by her. As a corollary thereto, you cannot renounce a share which you do not have. 

2. The renunciation of share can be done after her lifetime by executing a relinquishment deed or family settlement. If you wish to relinquish your share during the lifetime of your mother then it has to be preceded by a partition or family settlement between your mother and her heirs.

3. The relinquishment of share, subject to the above mentioned rider, will be legally binding on your brother. Get a flawless partition or family settlement deed, as the case may be, drafted by a lawyer to ensure that the subsequent relinquishment gets the legal character you wish to give to it.

4. Inheritance will not open if you relinquish your share.
Ashish Davessar
Advocate, Jaipur
18266 Answers
451 Consultations
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1. Yes your renunciation would be in effect of making him the absolute owner. For this you have to execute and register a deed of release/relinquishment or gift in favour of your brother.
2. With the completion of the said deed you would no more remain as the owner of the said properties and hence you would not be affected by any event incidental thereto.
Devajyoti Barman
Advocate, Kolkata
5248 Answers
54 Consultations
4.9 on 5.0
Hi
1.  you need to get a gift deed or a deed of relinquishment registered  by releasing your shares in the said property  to your brother absolutely.In both the cases the stamp duty is paid the certain percentage based on  the market value of the share you own .
2. You can mention that you will not be liable to any future events or liability to any other persons or government authorities legally or otherwise.
3. The release deed of a landed property in Kerala if it i an ancestral property only 2% stamp duty otherwise stamp duty is as same as in the case of  sale deed.
4. This means if your land is handed over by your ancestors , then the release deed is charged only 2% stamp duty on market value of the portion of your share.
To avoid future claim as well as liability you should register the relinquishment/release deed in the sub registrar office of the area.
Thresiamma G. Mathew
Advocate, Mumbai
1316 Answers
85 Consultations
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Hello,
1) Although you have a share through inheritance in the property owned by your mother, it will not accrue until her death or until it is divided between you siblings through a deed of partition.

2) If you get a Deed of Relinquishment registered in your brother's name or get a gift Deed registered he can become absolute owner of your share of the property.

3) Therefore it would be advisable to get a partition of the property done initially and follow it up with a relinquishment deed or a gift deed in favour of your brother.

4) You will not be liable for any future liabilities or events relating to the property once the document is registered by any of the deed of transfer.
S J Mathew
Advocate, Mumbai
1954 Answers
66 Consultations
5.0 on 5.0
1. You can execute and register a settlement/relinquishment deed in his favour relinquishing your share of the property,

2. You shall have to execute a Power of Attorney in favour of your brother, at USA and get it notarised before the Indian consulate at your place,

3. The said POA shall have to be endorsed by DM at India,

4. With the said POA executed and notarised at USA and also endorsed at India favouring your brother,  he can get the settlement/relinquishment deed executed and registered in India.
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
234 Consultations
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 At present you have no right over the property. After the mother's demise you have to execute a relinquishment   deed infavour of your  brother .Or other wise mother will make a will and give all the properties to your brother through the will.
Ajay N S
Advocate, Ernakulam
1918 Answers
19 Consultations
5.0 on 5.0
The property lying on your mother's name  has not conferred any title or ownership on  you yet, so you may have to wait for that event and then only you can execute a relinquishment deed relinquishing your rights in favor of other heirs.  



1. my renunciation of property is legally binding and my brother becomes the sole heir?
Wait to acquire title to the properties.

2. I am not held liable towards any events that would be incurred because of that inheritance.
Your question is not clear.
T Kalaiselvan
Advocate, Vellore
14177 Answers
128 Consultations
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