Relinquishment Deed & Transfer of Property by Non-Resident Indians (NRI) | Real Estate Attorney in Delhi NCR | NRI Legal Services in Delhi NCR |
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A “Relinquishment Deed” is a legally valid and legally enforceable document whereby one person can relinquish and/or surrender his/her claims and rights over an movable or the immovable property, in favour of another person.
The “Relinquishment Deed” can only be executed by the person who is the lawful owner of the movable or the immovable property. The person who executes the Relinquishment Deed is known as the “Executant” and/or the “Releasor” and the person to whom the ownership rights are surrendered and/or transferred is known as the “Releasee” respectively.
A Non-Resident Indian (NRI) can transfer his/her share in his property i.e. both movable and immovable property to any person in India by way of executing a Relinquishment Deed in favour of that person.
The Relinquishment Deed should primarily carry the following clauses i.e.
- The “Executant and/or Releasor” is the lawful owner of the said property.
- The “Executant and/or Releasor” is relinquishing and/or surrendering his/her entire share in the property, in favour of the “Releasee” respectively.
- The “Executant and/or Releasor” is relinquishing and/or surrendering his/her entire share in the property by way of free will and not under any coercion, duress and undue influence, in favour of the “Releasee” respectively.
- The “Executant and/or Releasor” also assures and undertakes that neither he nor his legal heirs and/or successors shall exert any claim(s), interest(s), lien(s) and/or right(s) over the property.
A Non-Resident Indian (NRI) can transfer his/her share in his property i.e. both movable and immovable property to any person in India by way of executing a Relinquishment Deed in the presence of two witnesses. The said Deed can be apostilled in the country where the Non-Resident Indian (NRI) is residing and can be verified by the officials of the Indian Embassy.
The easiest way to transfer a property in India by an Non-Resident Indian (NRI) is by executing a Relinquishment Deed. The same does not involve hassles and is a legal document which is legally enforceable by the Courts of law in India. The Relinquishment Deed is a valid piece of evidence which is admissible before the Sub-Registrar’s Office in order to enable the transfer of a property including the change of name in the official land records.
Authored By: Adv. Anant Sharma