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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.



 

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User Reviews


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who to contact to make relinquishment deed?

Sonal on Jul 30, 2022
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nice article and very helpful about relinquishment deed

Aditi on Aug 02, 2022
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is it mandatory to register hakka sod patra?

Swathi on Jul 26, 2022
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how to register relinquishment deed?

Jayesh on Jul 04, 2022
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very well. Please share hakka sod patra format

Mani on Jul 18, 2022
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nice legal article.

Shruti on Jul 28, 2022
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helpful in understanding the law

Amol on Jun 23, 2022
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good advice. Who can I contact for my legal issue?

Ajith on Jun 28, 2022
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good legal subject

Venkatesh on Jul 30, 2022
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very good article. Can you tell me more about the law?

Jayesh on Jul 25, 2022
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can you share your helpline number

Mahendra on Jul 24, 2022
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thanks for the info. How can we contact a lawyer?

Harpreet on Jun 30, 2022
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very good article. Please provide more information on the subject

Babita on Jul 27, 2022
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Nice piece on the subject.

Dipak on Jul 21, 2022
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thanks for the information

Megha on Jul 13, 2022
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nice article

Venkat on Jun 24, 2022
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loved the way concept is explained. Nicely written for any layman to understand.

Akhil on Jun 24, 2022
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Had a good time reading the article.

Harpreet on Jul 29, 2022
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it’s a very nice legal article

Nitish on Jul 09, 2022
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solved my queries.

Gaurav on Jun 22, 2022

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