• Relinquishment deed draft on 3rs sub registrar stamp paper

My father died leaving myself (son) and sister and mother as heirs of property.
Now my mother and sister are releasing their share in my favour completely on a schedule property. 
Question is which deed can be used ? I have already drafted a relinquishment deed need help in review of same. 
Also relinquishment deed is getting registered now but is it compulsory to draft document over 100rs stamp paper ?
As it’s drafted on a 3 rs sub registrar stamp paper of Karnataka and registering it. 
If it’s fine to Continue or if franking it with 100rs seal works ?
Asked 11 months ago in Property Law
Religion: Hindu

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13 Answers

Relinquishment deed or gift deed can be used 

 

2) stamp duty on relinquishment deed or gift deed varies from state to state 

 

3) it should be on stamp paper or franked 

 

4) for review of relinquishment deed engage any lawyer on this website 

Ajay Sethi
Advocate, Mumbai
94720 Answers
7532 Consultations

5.0 on 5.0

There are three documents and either of which can be executed:-

1. MOU CUM SETTLEMENT DEED. 

2. RELINGUISHMENT DEED. 

4. WILL

As per law every document like in your case relinquishment deed on the stamp paper as required under stamp Act. Mere printing on Rs.100 stamp paper is not sufficient. You may consult in regard to drafted relinquishment deed.

Siddharth Srivastava
Advocate, Delhi
1243 Answers

5.0 on 5.0

Release deed can be executed duly stamped and registered 

 

2) Relinquishment deeds transfer a person's legal rights to a property to someone else with their consent. In such cases, the two people must be related. A release deed renounces one's claims against a specific property. In such cases, the two people do not have to be related.

Ajay Sethi
Advocate, Mumbai
94720 Answers
7532 Consultations

5.0 on 5.0

1. Stamp Duty has to be paid separately through K2 Challan.

2.  The Reliquishment/Release Deed can be printed on a thick bond sheet or on Rs. 2 or Rs.3 bond paper as any way you will be paying the stamp duty through K2 Challan.

Shashidhar S. Sastry
Advocate, Bangalore
5116 Answers
314 Consultations

5.0 on 5.0

There is technical issue in release deed and relinquishment deed. So it should be relinquishment deed which is appropriate and would end ever future issue. 

Siddharth Srivastava
Advocate, Delhi
1243 Answers

5.0 on 5.0

Release Deed and Relinquishment deed both are one and the same. As far as paper is concerned you can take out  the printout either in 3 Rs paper or A-4 Bond papers. There is no need to take print out in 100 Rs. Stamp paper.  

Pradeep Bharathipura
Advocate, Bangalore
5604 Answers
335 Consultations

4.5 on 5.0

Release and relinquishment are same but relinquish is technical term under Transfer of Property Act, 1882. There it is better to execute release deed. Stamp duty for registration of release deed between family members in Karnataka is 1k and registration fee is 500. 

Ravi Shinde
Advocate, Hyderabad
4042 Answers
42 Consultations

5.0 on 5.0

A registered release deed relinquishing their rights in the property to be executed by them jointly before the concerned sub registrar office.

The stamp duty for the registration of the release deed can be enquired from the local sub registrar office as the stamp duty varies from one state to another in India. You can execute the release deed on a non judicial stamp paper or get it executed  on a  franked paper. 

T Kalaiselvan
Advocate, Vellore
84920 Answers
2195 Consultations

5.0 on 5.0

The correct technical name is 'release deed' upon execution of which the shareholders relinquish their rights in the property, therefore whether it is release deed or relinquishment deed, it makes no difference because both convey the same meaning.

You can get it printed on a normal stamp paper or on a stamp paper franked with the value of the stamp duty.

 

T Kalaiselvan
Advocate, Vellore
84920 Answers
2195 Consultations

5.0 on 5.0

Yes you can do the aforesaid 

Prashant Nayak
Advocate, Mumbai
31951 Answers
179 Consultations

4.1 on 5.0

A deed of relinquishment is the same as a release deed. In a relinquishment deed, one party releases his/her share in favour of the other. Adequate stamp duty on the deed has to be paid. The deed can very well be executed on a plain paper and registered if the stamp duty and the registration charges are duly paid.

Swaminathan Neelakantan
Advocate, Coimbatore
2797 Answers
20 Consultations

4.9 on 5.0

- As per law, after the demise of your father , his property would be devolved upon his legal heirs equally and hence you have 1/3 rd share in the property. 

- Further, as your sister and mother is ready to release their respective share , then they can execute a registered relinquishment deed before the registrar. 

- You should enquire from the registrar office for the stamp duty , and further can printed this deed on the said stamp papers. 

Mohammed Shahzad
Advocate, Delhi
13222 Answers
198 Consultations

5.0 on 5.0

In general, when family members release or relinquish their share in favor of another family member, a deed of relinquishment or release deed is commonly used. This document outlines the intention of the releasing parties to transfer their rights, title, and interest in the property to the other party.

 

While the specific requirements may vary based on the laws of the jurisdiction, some general considerations for a valid relinquishment or release deed include:

 

Contents of the deed: The deed should clearly state the intention of the releasing parties to relinquish their share in the property. It should identify the property, mention the relationship between the parties, and outline the extent of the release. It's important to include all necessary details to avoid any ambiguity.

 

Stamp duty and registration: Stamp duty is a tax levied on certain legal documents, including deeds of relinquishment or release. The stamp duty is usually calculated based on the value of the property being released or relinquished. In most cases, these deeds are required to be executed on stamp paper of appropriate value and registered with the relevant authority. The stamp duty and registration requirements may vary between states in India, so it's crucial to consult with a local lawyer who can advise you on the specific stamp duty and registration requirements in Karnataka.

 

As for the stamp paper value, it's generally advisable to use the stamp paper of the appropriate value as required by the applicable stamp duty regulations. If the local advocate and stamp vendor are suggesting that a 3 rupees stamp paper is acceptable for your situation, they may be aware of any specific rules or exemptions in Karnataka. However, it's still advisable to consult with a lawyer to ensure that you are following the correct legal procedures.

 

Regarding the use of "release deed" instead of "relinquishment deed," the terminology may vary depending on the jurisdiction and legal practice. Both terms are commonly used to refer to the same concept of transferring or releasing one's rights in a property. The important aspect is that the document clearly reflects the intention of the parties and their agreement.

 

 

Anik Miu
Advocate, Bangalore
8879 Answers
110 Consultations

4.7 on 5.0

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