Is mandatory for an Agreement for relinquishment of Rights to be registered.
I am party to a transaction we are trying to negotiate, where some ancestral property was sold off by a few heirs and the property transferred to the buyer. He has registered this agreement and paid stamp duty. Many heirs were left out of this deal.
2. To safeguard his title he is making us(balance heirs) sign a deed of ratification of the earlier agreement wherein we relinquish our rights against some compensation.
Does this document have to be registered? We want to claim caiptal gains tax on the compensation.
