Gift deed

vijay narayan vartak (Querist) 13 April 2012 This query is : Resolved
my son & wife had purchased a 1bhk flat in borivali(e)with 50%share each.now he wants to delete his mother's name &add his wife's name as he is married.pl let me know the procedure &expences.
thanks in advance

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ajay sethi (Expert) 13 April 2012
your wife will have to execute deed of relinquishment in his favour . then your son can have your wife name deleted and execute gift deed for adding his wife name

Devajyoti Barman (Expert) 13 April 2012
The mother needs to execute either a gift deed or relinquishment deed.

M/s. Y-not legal services (Expert) 14 April 2012
yes., am also agree with our experts..

-tom-

prabhakar singh (Expert) 14 April 2012
The mother of your son will have to transfer
her share in favor of your son's wife by Gift.the advised relinquishment or surrender deed can be written only in favor of your son but not in favor of your'sons wife as desired by your son.

SAINATH DEVALLA (Expert) 14 April 2012
Dear Vijayji,

Well adviced by the experts regarding the procedure.But as a lawyer I have my own doubts.I take the previlege of asking you two questions.
(1) Has your wife also invested in the
property
(2) Taking future into consideration is
it advisable to relinquish in favour
your daughterinlaw.