We are two brothers and one sister. We three are legal heirs of a property owned by our deceased father who died intestate. Sister is married and living at other place with her inlaws. Myself is living at another town. Our eldest brother is living in the property of our father. Me and my siter decided to relinquish our right on the property in favour of our eldest brother. Now eldest brother also decided to give some amount to us both with his good heart. We three decided to sign a relinquish deed. I need to have some document with me which show that our brother has given me some amount with his own wish. Actually sister does not need it. I need it. So what type of doucment will it be, will it be a simple affidavit with signature of all of us. Or will it be a indemnity bond where we both indemnify each other in regard to the property transaction. Or is there any other provision. We just want to have it notorized in a stamp paper. Not willing to do a registration, as its our mutual understandign and agreement that we all decided to release the right, and the eldest son gave some money out of his own good will. Its not a consideration amount in lieu of the release deed.
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An unregistered release deed will not be considered as a legally valid transfer of your share in the property on your brother's name.
The relinquishment of your rights in the property will be recognised as legally valid only when you execute a registered release deed.
In the same release deed the sum of consideration passed by your brother can be mentioned, which will be valid and prevent you from claiming back your share at anytime in future.
deed of relinquishment for consideration should be executed duly stamped and registered
mere affidavit is not sufficient
any document relinquishing share in property requires registration
Both affidavit and indemnity bond will do
You and your sister can execute relinquishment deed or release deed wherein it could be mentioned that in lieu of money in respect of respective share you and sister have relinquished or released their right in favour of elder brother. A supportive affidavit should also be executed by both of you and sister.
- As per law, after the demise of your father intestate , his property would be devolved upon all his legal heirs equally i.e. you three will have 1/3rd each share in the property , if mother has already died.
- Further , you and sister can release your respective shares in favor of elder brother after registering a Relinquishment deed .
- Further, you can also mention in the said deed that your brother has paid amount some amount with his own wish unconditionally at the time of execution of the deed.
- Any other unregistered documents for releasing the property is not valid .
1. Let your sister and you execute a registered Reliquishment Deed in favour of your brother in the jurisdictional Sub Registrar's Office.
2. Even if and your sister are receiving some amount from your brother, let it be shown in the Relinquishment Deed.
3. If it is only notarised, it's not legally valid and has to be registered in the jurisdictional Sub Registrar's Office.
A proper deed of relinquishment needs to be drafted by a competent lawyer, duly executed by all the persons concerned and registered. In it, the facts of your sister forgoing her share without any consideration and you receiving some monetary compensation should be clearly stated. A mere affidavit or indemnity shall not legally be binding.
Mention in the relinquishment deed, given out of love and affection. No extra stamp duty.
Or separate agreement on stamp duly notarize.
Dear Client,
A valid deed of relinquishment requires the expertise of a capable attorney, complete signatures from all involved parties, and proper registration. This document should explicitly outline your sister's voluntary renouncement of her share without any exchange and your receipt of monetary recompense. A simple affidavit or indemnity will not hold legal weight in this matter.
1. If it is shown that you have relinquished your share of the property to your brother and he has paid you some money then it will be considered as sale for which appropriate stamp duty will have to be paid by you.
2. In your case, you and your sister shall have to register a relinquishment deed for relinquishing both of your shares in favour of your brother. Without registering the deed of conveyance, title of no property can be conveyed.
3. Finally, your brother can gift the said amount to you for which he has to affirm an affidavit to that effect.
