If you are wondering what relinquishment deed's meaning is, it would be better to explain the same with an example. In case three sons of a person have inherited a large property in their hometown after their death who has not left a written will. If two of the three sons work in far-off cities and find this cumbersome in managing the estate in their hometown, they can transfer the rights in the name of the third brother who lives near the ancestral property and can handle the estate well.
Now let us assume that those two brothers want to transfer their rights to the third brother, a deed of relinquishment or relinquishment deed would be drafted and registered for formalizing the procedure. Even, in any case, the two brothers have opted to take money for the transfer, a similar deed would then be created for making this transfer a legally valid one.
However, one must very carefully understand the various legalities involved in this procedure for successfully creating a relinquishment deed. Relinquishment Deed is also known as a release deed.