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Suggested Relinquishment Deed Format India
Deed of Relinquishment is made on this ———the day of——— by ————, residing at——— (hereinafter called the First party which expression shall unless repugnant to the context thereof shall deem to include heirs, executors, administrators and assigns) OF THE FIRST PART.
—————- Residing at —————– (hereinafter called the second party, which expression shall unless repugnant to the context thereof shall deem to include heirs, executors, administrators and assigns) OF THE SECOND PART.
Whereas the Party of the First Part is the legal heir of the deceased Late Shri/Smt.————– who died interstate.
AND WHEREAS the said Shri/Smt. —————– has left behind him a property i.e. flat no.———– situated in ———-admeasuring about ——- sq. ft. consisting of ————— rooms at—————.
AND WHEREAS the second party has been residing with the deceased since last————— years.
AND WHEREAS during the lifetime of Shri/Smt.—————– he had expressed his desire to bequeath the said, flat to the party of the second part.
AND WHEREAS the party of the first part was also aware of the same and as such for transmitting share an interest in the said flat no.———— in favor of the party of the second part and the first party has shown his readiness and willingness to execute necessary documents by relinquishing his share and interest as a legal heir in the said property.
AND WHEREAS mutually it has been agreed that for the said share and interest as legal heir in the said property of Late Shri/Smt.————— for consideration of Rs—— to which the second party has agreed to give to the party of the first part.
AND WHEREAS the second party in order to become the exclusive owner of the premises, the first party relinquishes and ceases to have any right, title or interest therein.
AND WHEREAS it is necessary to bring this fact on record.
NOW, THIS DEED/INDENTURE WITNESSES:
The First Party has released and relinquished in favor of the second party all their rights, titles an interest in the said, flat situated at ———- and to hold the same as the absolute owner along with all furniture and fixture standing thereon.
And the first parties do hereby declare that the said premise and has been the exclusive property of the second party with effect from ————–.
That the first party does hereby declare that the second party is entitled to have his name incorporated as the owner of the said, flat in the records of the society by transferring share, title and interest in his name.
And the first party will do every such assurance or thing for further or more perfectly assuring the property released to the second party as may be reasonably required.
IN WITNESS WHEREOF the parties hereto have executed this instrument on the date, first hereinabove mentioned.
- First party
Overview of – Relinquishment Deed Format
Many times it happens that a person dies intestate (without leaving a will or testamentary will) in such cases the property of that person is inherited by his/her legal heir.
Then it’s up to the heirs as what they want to do with the said property. If the heir’s come to the conclusion of separation of property, then anyone of the co-owner (who is not willing to keep the property) can relinquish his share in favor of the other owner. This process of transferring property from one owner approving the other is known as“Relinquishment of Property”.
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