RELINQUISHMENT DEED (DRAFT)
This Deed of Relinquishment is made on this ________day of__________ by Shri /Smt________________, son/daughter of____ aged about _____ residing at_____________________ (hereinafter called the First party) which expression shall unless repugnant to the context thereof shall deem to include heirs, executors, administrators and assigns) OF THE FIRST PART.
Shri /Smt__________________ son/daughter of____ aged about _____ Residing at ___________________ (hereinafter called the second party, which expression shall unless repugnant to the context thereof shall deem to include heirs, executors, administrators and assigns) OF THE SECOND PART.
Whereas the Party of the First Part is the legal heir of the deceased Late Shri/ Smt.__________________ who died intestate.
AND WHEREAS the said Shri/ Smt. __________________ has left behind him a property i.e. flat no.__________________ situated in __________________ admeasuring about __________________ sq. ft. consisting of __________________ rooms at __________________.
AND WHEREAS the second party has been residing with the deceased since last _____ years.
AND WHEREAS during the lifetime of Shri/ Smt.__________________ he had expressed his desire to bequeath the said flat to the party of the second part.
AND WHEREAS the party of the first part was also aware of the same and as such for transmitting share and interest in the said flat no.__________________ in favour of the party of the second part and first party has shown his readiness and willingness to execute necessary documents by relinquishing his share and interest as a legal heir in the said property.
AND WHEREAS mutually it has been agreed that for the said share and interest as legal heir in the said property of Late Shri/Smt.__________________ for consideration of Rs__________________ to which second party has agreed to give to the party of the first part.
AND WHEREAS the second party in order to become exclusive owner of the premises, the first party relinquishes and ceases to have any right, title or interest therein.
AND WHEREAS it is necessary to bring this fact on record.
NOW, THIS DEED/INDENTURE WITNESSES:
The First Party has released and relinquished in favour of the second party all their rights, titles an interest in the said flat situated at __________________ and to hold the same as the absolute owner along with all furniture and fixture standing thereon. And the first parties do hereby declare that the said premise and has been the exclusive property of the second party with effect from __________________.
That the first party does hereby declare that the second party is entitled to have his name incorporated as the owner of the said flat in the records of the society by transferring share, title and interest in his name. And the first party will do every such assurance or thing for further or more perfectly assuring the property released to the second party as may be reasonably required.
IN WITNESS WHEREOF the parties hereto have executed this instrument on the date, first hereinabove mentioned.
WITNESS First party
Second party