BNS and Associates
Advocate Jamal Sait
2020 Years Exp
Relinquishment deed (Show More)
Bangalore , Chudenapura
View Answers by this Partner (3)
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Information
Overview
This agreement is not the best way to transfer a property to someone without involving any monetary transactions. This method allows the owner to transfer a property to a co-owner. This sort of transfer is also irrevocable. This involves a relinquishment deed that needs to be signed by both parties and registered at the sub-registrar’s office. A stamp duty needs to be paid during the registration process. However, the stamp duty needs to be paid only on the portion of the property that is being relinquished and not on the total value of the property. When compared to the gift deed, this deed has the problem of being taxable, if the relinquishment is for monetary gains, and not inclusive of any discounts if the property is being relinquished to a relative
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Name : Advocate Jamal Sait
Law Firm Name : BNS and Associates
Country : India
City : Bangalore
State : KARNATAKA
Practicing Since: 5
About Your Firm : Litigation ranging from Civil to Criminal before Competent courts in bangalore.
| Sr Employee Associated | Sr Employee Enrollment/Reg.No | Sr Employee Enrollment/Reg.State |
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| Jr Employee Associated | Jr Employee Enrollment/Reg.No | Jr Employee Enrollment/Reg.State |
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Subject : Drafting a Will
Question : Can i specify an under construction property in the Will? The property will be delivered only after a year. But i want to register the Will now by bequeathing my properties to my son. Is that possible?
Answer by BNS and Associates : A Will is a legal declaration. Certain formalities must be complied with in order to make a valid Will. It must be signed and attested, as required by law.
If u intend to create a will in favor of any person. it is very important that you must own the property and must have a marketable title. The Problem with under construction property is that the builder has not executed a sale deed in your favor. You have just booked the property and sale becomes complete only after paying entire consideration sale amount and executing the sale deed in your favor.
Subject : Property Fraud
Question : I purchased 3 non-NA plots from a seller on the condition that he will NA those plots in next 3 months. After 3 months, he started making reasons that the land has some problems. He asked us to wait for some time. Now Its been 7 years and he is giving me the same reason. I requested him to at least pay the money back but he is unnecessarily delaying that for the past 1 year. The seller is neither interested in giving me the plots nor the money back. How can I file a case against that fraudulent seller? Or what could be the best way to recover my money?
Answer by BNS and Associates : Can u please tell me what is NA?
Did u and the Seller had an agreement to sale?
Now u have two option
1. File a Suit for recovery of money i.e. Total amount plus Interest.
2.File a suit for specific performance of contract, where court orders the seller to abide by the Agreement to sell.
As there is a land dispute i recommend you that 1. option as you can recover all the amount.
Subject : Cost of rental agreement
Question : What is the total cost of rental agreement including stamp paper for rental in Hebbal apartment and how much time to send
Answer by BNS and Associates : Generally, the rental agreement is made for a period of 11 months to avoid Registration charges as required under Indian Registration Act. Stamp Paper of Rs.200 would be enough+Notary charges of around 100rs.
