Relinquishment Deed: Concept and Procedural Aspect
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 30 March, 2022
Latest from Taxmann
[2022] 136 taxmann.com 334 (Article)
Relinquishment deed – a brief
1. Most of the people neglect in creating a Will for years and by and large die without leaving a Will. If a person dies without leaving a Will, it is called as “intestate”. It also includes the property of a person which was inherited by his / her legal heir. In that case, the legal heirs could go for relinquishment deed, which allows a smooth transfer of property – if there are two or more legal heirs, and can request to separate the property in future.
A relinquishment deed is termed as a legal document where a legal heir relinquishes / release or gives up his / her legal rights to ‘inherited property’ in good faith in favour of other heir(s). When the person dies intestate, the relinquishment deed transfers ownership. The legal heir (by inheritance) will transfer their shares in favor of co-owner or an additional legal heir, of the same property. A relinquishment deed will be assigned either for consideration or with no consideration. Conversely, the parties involved must be co-owners of the property for the transfer to be released or relinquished.
Click Here To Read The Complete Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
