Joint ownership property between husband and wife in matunga mumbai
ganesh
(Querist) 09 October 2015
This query is : Resolved
hey
Immovable lease hold property at matunga, mumbai acquired and possessed in joint name of husband and wife and husband died intestate without leaving any will and the said deceased have left behind him widow, son and married daughter as his heirs and both husband and wife have each 50% shares in said property.
Q.1 said deceased wife wants to release her 50 % shares in said property and also release the said deceased estate in favour of her son so i want to know what is the distribution shares and what documents should be prepare as gift or release ?
Q.2 the said deceased married daughter also wants to release her share in favour of hes brother in the estate of said deceased so i want to know what is the distribution shares and what documents should be prepare as gift or release ?
Dr J C Vashista
(Expert) 10 October 2015
All legal representatives of deceased may relinquish their respective share in favour of son/brother in a "Relinquishment Deed" and/or "Gift Deed".
ganesh
(Querist) 10 October 2015
thank you sir but somebody said me that its joint prop between husband and wife and assume each have 50% share in said prop but after the demise of her husband the whole prop. share stand in the name of wife only or 50%? and that 50% share of wife can not release its only can gift ? and the estate of said deceased can not gift its only can release ?
Anirudh
(Expert) 10 October 2015
A person can 'relinguish'/'release' only when there are other persons who have interest in the property.
A person cannot 'relinquish' / 'release' the property in favour of a third party. That is possible only through WILL or through a GIFT or a Sale Deed.
The estate of the deceased cannot be released now. It will go by way of inheritance equally amongst all the class-I legal heirs of the deceased. The Class-I legal heirs of the deceased are (i) his mother if alive; (ii) his widow; (iii) his sons and daughters. Yes, the Legal heirs can release their interest / relinquish their share in the property either generally (i.e. without specifying any particular person in whose favour the share is being released) or in favour of a particular person.
Hemant Agarwal
(Expert) 10 October 2015
ALTERNATIVE SOLUTION: For CLEAR "title-ownership" over the property
1. WITH the mutual consent of ALL the legal heirs of the deceased, execute a "Family Settlement Deed" in favour one /more persons, thus transferring the related ratio of the deceased's property.
2. Via a duly executed Gift Deed, Joint-Owner (wife of deceased) may transfer her ratio of her property in favour one /more persons, thus transferring the related ratio of the property of the Joint-Owner (wife of deceased).
3. IT is mandatory to duly pay Stamp-Duty and Registration fees on both the above Deeds.
Keep Smiling .... Hemant Agarwal
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Rajendra K Goyal
(Expert) 11 October 2015
Proceed for registered relinquishment deed / gift deed / family settlement deed whichever attract less stamp duty.
ganesh
(Querist) 12 October 2015
Sir but asked to concerned registration of mumbai they told me that its a joint prop. between husband and wife each have 50% shares in said prop. if husband died intestate without leaving any will. the estate of said deceased can not gift it may release and remaining 50% share of her wife may gift can not release ? is it?
