Relinqishment

[Deepak Whorra]

Dear Experts,

 

My brother and I are joint owners of a residential house.

My brother wants to relinquish his hare in the property in my favour.

 

What are the procedures, Tax Implications and Registration of relinquishment deed formalities. ?

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have clarified in the above issue? If not please inform.

AI Summary

Relinquishment of property share: procedural, tax and registration guidance sought for transfer between joint owners who are relatives. A joint owner proposes to relinquish his share in a residential house to his brother and requests guidance on drafting and executing a relinquishment deed, registration and stamping requirements, required documentation, and the tax implications of the transfer between relatives; the lone reply asks for clarification and offers no substantive advice.