Hakka Sod Patra Relinquishment deed in Maharashtra

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April 14, 2021
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.

How can a lawyer help?

A hakka sod patrabeing a legal document requires the supervision of a legal expert for the purpose of drafting and executing. Adocumentation lawyer, owing to his years of experience in handling property-related documents, can guide you through the procedure of drafting and registration of the same. He can get the document drafted on your behalf and can ensure that your other rights or assets are not affected by executing a particular document. He can make sure that all the legal formalities are fulfilled while following the legal procedures and no legal harm is done to the property holderduring the transaction.You can also use LawRato'sFree Legal Adviceservice to get free advice on your case from expert propertylawyers.



 

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User Reviews


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A
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who to contact to make relinquishment deed?

Aakash on Oct 12, 2021
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is it mandatory to register hakka sod patra?

Chetan on Sep 08, 2021
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how to register relinquishment deed?

Vishnu on Sep 21, 2021
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nice article and very helpful about relinquishment deed

Shrikant on Oct 14, 2021
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very well. Please share hakka sod patra format

Harsha on Oct 11, 2021
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nice legal article.

Ajay on Sep 17, 2021
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solved my queries.

Rohit on Oct 09, 2021
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good legal subject

Sarita on Oct 04, 2021
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it’s a very nice legal article

Vipin on Sep 19, 2021
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thanks for the info. How can we contact a lawyer?

Sandhya on Oct 09, 2021
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needed legal help…whom shall I contact?

Shashi on Sep 27, 2021
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nice one. Please share more info

Mani on Oct 11, 2021
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A well written article.

Abhishek on Sep 07, 2021
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thank you for the article

Keshav on Oct 05, 2021
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Thanks for the detailed article.

Dheeraj on Sep 17, 2021
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can you share your helpline number

Mahendra on Oct 15, 2021
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Written plainly to be understood by anyone who is from a non-legal background.

Harsha on Sep 20, 2021
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thanks for the information

Aditya on Sep 06, 2021
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very helpful

Kishan on Oct 03, 2021
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Understood the subject with clarity.

Shikha on Oct 07, 2021

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