I want to highlight the issue of relinquishment deed. I have a nuclear family consisting of my parents, my younger brother and I. My father died two years ago and after him we are the three legal heirs of his property. Now the question is, can my brother resign after getting his share (as there will be 3 shares)? He wants to give his share to his mother before going abroad next month. Can you help how many days will it take to do this kind of process? – anonymous
We assume that you are a Hindu and that your father is bequeathed, i.e. without leaving your last will and testament, and as a result, your mother, your brother and you are each entitled to one third of your father’s undivided rights, title and interest. Huh. property / property. On the death of your father, who died intestate, each of you immediately becomes the owner of one-third of the undivided rights in your father’s property. Since your brother wants to renounce his share which goes to your mother immediately after the death of your father, it is possible through a relinquishment or a release deed in your mother’s favor. You may also note that in case of immovable property, it has to be adequately stamped as per the state stamp laws and registered with the concerned registrar to be valid. Registration of relinquishment/release in the appropriate Sub-Registrar’s office having jurisdiction over the immovable property after payment of applicable stamp duty along with registration fee as per State laws. Depending on the state in which the property is located and the preparation of the release deed, it may take around five to seven days for the registration to be completed.
(Question answered by Aradhana Bhansaleep, Partner, Rajni Associates. Please send your queries and thoughts to minmonet@livemint.com)