Property, Real Estate and Transactions of Property Owned by Several Persons

Property, Real Estate and Transactions of Property Owned by Several Persons

The case of Neeraj Arya v. Rakesh Arya [2023] GCtR 2501 (Delhi) has explained the issue of property transactions amongst family members. It was held that such document even if titled as "Relinquishment Deed" will be a "Gift Deed" and if proper duty has not been paid such document has to be impounded in terms of S.33 of Indian Stamp Act, 1899. 

In this case, a relinquishment deed was executed by a Co-owner A in favour of B, another Co-owner ; the third co-owner C was not made part of relinquishment deed. This reflects that the exclusion of even one co-owner in relinquishment deed will impact its validity.