Hakka Sod Patra Relinquishment deed in Maharashtra

हिंदी में पढ़ें
September 03, 2016
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

nice article and very helpful about relinquishment deed

Surender on Feb 12, 2021
G
LawRatoLawRatoLawRatoLawRato

very well. Please share hakka sod patra format

Gourav on Feb 26, 2021
S
LawRatoLawRatoLawRatoLawRatoLawRato

who to contact to make relinquishment deed?

Syed on Feb 20, 2021
S
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is it mandatory to register hakka sod patra?

Shekhar on Feb 02, 2021
R
LawRatoLawRatoLawRatoLawRato

how to register relinquishment deed?

Rakesh on Jan 26, 2021
J
LawRatoLawRatoLawRatoLawRatoLawRato

thanks for the information

Jatin on Feb 03, 2021
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Gave a clear understanding about my legal issue.

Ritu on Jan 31, 2021
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needed legal advice…who to call

Raman on Feb 11, 2021
H
LawRatoLawRatoLawRatoLawRato

nice article. Good legal advice

Harsh on Feb 09, 2021
D
LawRatoLawRatoLawRatoLawRatoLawRato

Had a good time reading the article.

Deepika on Jan 21, 2021
G
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Gaurav on Jan 21, 2021
S
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more info needed on the law

Sweta on Feb 09, 2021
A
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nice one. Please share more info

Akhil on Jan 18, 2021
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good article. Very helpful

Nidhi on Feb 11, 2021
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Written plainly to be understood by anyone who is from a non-legal background.

Brijesh on Feb 16, 2021
S
LawRatoLawRatoLawRatoLawRatoLawRato

good article and easy to understand

Swetha on Feb 21, 2021
A
LawRatoLawRatoLawRatoLawRato

The writer has explained the law perfectly.

Ashwini on Feb 06, 2021
B
LawRatoLawRatoLawRatoLawRatoLawRato

nice artcile

Brijesh on Jan 26, 2021
R
LawRatoLawRatoLawRatoLawRato

nicely written

Ramesh on Feb 25, 2021
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Amit on Feb 24, 2021
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thanks for the advice

Dhiraj on Feb 08, 2021

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