Who relinquish their rights?
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Who relinquish their rights?
The process of transferring property from one legal heir to another legal heir with or without any consideration is known as “Relinquishment of Property”. In a gift deed, an owner can give up his right to anyone he chooses, irrespective of whether that person is a legal heir of that property or not.
Who can do relinquishment deed?
The relinquishment of property can only be done by someone who has a share in the property. In case there is more than one owner in a property, either of the co-owners can do relinquishment. For a valid relinquishment, the essentials of a valid contract are to be followed other than the compensation.
Who is first party in relinquishment deed?
Whereas the Party of the First Part is the legal heir of the deceased Late Shri/Smt. ———————————————————————————– who died intestate. AND WHEREAS the said Shri/Smt. ———————————————– has left behind him a property i.e. flat no.
Can NRI sell property jointly with resident Indian?
There are no specific guidelines under FEMA for purchase of property by NRI jointly with resident Indians. An NRI is allowed to sell or gift any immovable property to any resident Indian. Any property can be gifted to NRI by an NRI other than agricultural property, plantation or a farmhouse.
Is notarized relinquishment deed valid?
Yes, such notarized relinquishment deed can be registered at the sub-registrar\’s office under whose jurisdiction such property is located but this should be done within sixty days from such notarized documents when made.
What is the position of right to property in India?
Right to Property was a Fundamental Right in the original constitution under Article 31, which provided that the Constitution not only guarantees the right of private ownership but also the right to enjoy and dispose of property free from restrictions other than reasonable restriction.
Can non Indian citizens own property in India?
Foreign nationals of non-Indian origin resident outside India can acquire/ transfer immovable property in India, on lease not exceeding five years and can acquire immovable property in India by way of inheritance from a resident.