Hakka Sod Patra Relinquishment deed in Maharashtra

हिंदी में पढ़ें
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.



 

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


4.6 - 22 reviews
S
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who to contact to make relinquishment deed?

Suraj on Jun 01, 2021
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is it mandatory to register hakka sod patra?

Ranjan on May 22, 2021
D
LawRatoLawRatoLawRatoLawRato

nice article and very helpful about relinquishment deed

Deepa on Apr 28, 2021
L
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very well. Please share hakka sod patra format

Lakshmi on May 01, 2021
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how to register relinquishment deed?

Ashu on Apr 28, 2021
R
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Good work with the article.

Rajkumar on May 30, 2021
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Shivani on Jun 04, 2021
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more info needed on the law

Nagesh on May 25, 2021
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Tells all the legalities about the subject. Good work.

Anitha on May 06, 2021
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thanks for the info. How can we contact a lawyer?

Ankush on May 03, 2021
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good article. Can you give some more detail on the issue.

Ritu on May 31, 2021
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Good work with the article. Solved all my legal queries. Regards.

Parul on Jun 01, 2021
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Raghu on May 20, 2021
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nice article. Good legal advice

Manoj on May 11, 2021
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informative

Priti on Jun 09, 2021
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how to contact a lawyer?

Amandeep on Apr 25, 2021
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Nitin on May 25, 2021
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its very helpful on the subject

Tarun on Apr 25, 2021
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great advice. Thanks

Vandana on May 20, 2021
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very detailed and informative

Kuldeep on May 28, 2021
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Pawan on May 29, 2021
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Priyanka on Apr 26, 2021

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