Hakka Sod Patra Relinquishment deed in Maharashtra

हिंदी में पढ़ें
June 20, 2019
By Advocate Chikirsha Mohanty



What is Hakka Sod Patra?

A Hakka Sod Patra (or Haq Sod Patra) is relinquishment deed specific to the region of Maharashtra wherein a person legally or formally gives up or releases his legal rights of the said property being relinquished in the name of some other person. This is one of the modes of transferring rights of an immovable property.

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What is the registration procedure for Hakka Sod Patra?

  • The Hakkaa sod Patra is prepared or drafted by an advocate.

  • Stamp duty is purchased for execution. However, Maharashtra government has announced that there will be no Stamp Duty applicable on transfer of land, building and estate to legal heirs and successors.

  • A date is fixed for registration in the Sub-Registrar office.

  • Government registration fee is paid.

  • Both the parties and 2 witnesses are required to visit the registrar office on the fixed day for the registration.

  • Registered relinquishment deed or Haqqa Sod Patra is collected after a week
     

What are the advantages and disadvantages of transferring a property through relinquishment deed?


Advantage

This document is most commonly used when a person dies without leaving behind a will and all siblings end-up inheriting the property. Unlike a gift deed, you can draw the relinquishment deed for monetary consideration.

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Limitations

  • There are no tax benefits.  The term ‘transfer’ includes relinquishment, not gift. Hence, when you are relinquishing property for monetary consideration, it will result in capital gains for the transferor.

  • If the consideration is less than the stamp duty value of the property, the difference between the stamp duty and the consideration will be taxed in the hands of the buyer.

  • If you relinquish it without any consideration, the stamp duty value of the property will be its sales price.



 

These guides are not legal advice, nor a substitute for a lawyer
These articles are provided freely as general guides. While we do our best to make sure these guides are helpful, we do not give any guarantee that they are accurate or appropriate to your situation, or take any responsibility for any loss their use might cause you. Do not rely on information provided here without seeking experienced legal advice first. If in doubt, please always consult a lawyer.


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User Reviews


4.9 - 21 reviews
S
LawRatoLawRatoLawRatoLawRatoLawRato

very well. Please share hakka sod patra format

Sunil on Sep 09, 2019
R
LawRatoLawRatoLawRatoLawRatoLawRato

how to register relinquishment deed?

Raman on Oct 04, 2019
S
LawRatoLawRatoLawRatoLawRatoLawRato

is it mandatory to register hakka sod patra?

Sanju on Sep 15, 2019
A
LawRatoLawRatoLawRatoLawRato

who to contact to make relinquishment deed?

Ashish on Sep 17, 2019
M
LawRatoLawRatoLawRatoLawRato

nice article and very helpful about relinquishment deed

Mani on Sep 28, 2019
N
LawRatoLawRatoLawRatoLawRato

nice artcile

Narender on Aug 28, 2019
D
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needed legal help…whom shall I contact?

Diya on Oct 08, 2019
V
LawRatoLawRatoLawRatoLawRato

Excellent work. Very helpful for understanding the subject.

Venkat on Sep 01, 2019
A
LawRatoLawRatoLawRatoLawRato

A well written article.

Anand on Oct 07, 2019
V
LawRatoLawRatoLawRatoLawRatoLawRato

helpful in understanding the law

Vidya on Sep 08, 2019
K
LawRatoLawRatoLawRatoLawRato

Written plainly to be understood by anyone who is from a non-legal background.

Kamal on Sep 06, 2019
A
LawRatoLawRatoLawRatoLawRatoLawRato

it’s a very good article

Ankita on Sep 24, 2019
K
LawRatoLawRatoLawRatoLawRatoLawRato

good work

Kirti on Oct 02, 2019
M
LawRatoLawRatoLawRatoLawRato

Very informative and a good read as well.

Mandeep on Sep 16, 2019
N
LawRatoLawRatoLawRatoLawRatoLawRato

needed legal advice…who to call

Nilesh on Oct 05, 2019
K
LawRatoLawRatoLawRatoLawRatoLawRato

Very helpful for my legal case.

Kamlesh on Sep 28, 2019
D
LawRatoLawRatoLawRatoLawRato

Good work with the article.

Dinesh on Sep 16, 2019
A
LawRatoLawRatoLawRatoLawRato

thanks for the information

Ashok on Sep 19, 2019
M
LawRatoLawRatoLawRatoLawRatoLawRato

loved the way concept is explained. Nicely written for any layman to understand.

Manpreet on Sep 01, 2019
S
LawRatoLawRatoLawRatoLawRato

more info needed on the law

Shilpi on Oct 06, 2019
S
LawRatoLawRatoLawRatoLawRato

good article. Very helpful

Sakshi on Sep 22, 2019

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