A relinquishment deed lets a co-owner, often a legal heir, give up their share in jointly owned or inherited property in favour of the other co-owners. It must be in writing, signed, attested by two witnesses and registered with the Sub-Registrar. Stamp duty depends on the state, with concessions for family members in many states. Once registered it generally cannot be revoked.
When it is used
- Heirs consolidating inherited property
- Siblings transferring shares to one member
Relinquishment vs gift deed
| Factor | Relinquishment | Gift |
|---|---|---|
| Recipient | Co-owners only | Anyone |
| Consideration | With or without | Without |
Process
- Draft the deed.
- Pay stamp duty.
- Execute before Sub-Registrar with witnesses.
- Update mutation records.
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Release without consideration to relatives generally has no tax for the recipient; consideration may create capital gains for the releaser.
Frequently asked questions
Can a relinquishment deed be cancelled?
Generally not, except on grounds like fraud or coercion through court.
Can I release in favour of an outsider?
No. Use a sale or gift deed for non-co-owners.
Is it needed after partition?
Not if a partition deed has already divided shares.
Can NRIs execute a relinquishment deed?
Yes, often via power of attorney or execution abroad with attestation.
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