Transfer of property

Satya (Querist) 15 July 2012 This query is : Resolved
I am in US and my parents are in Delhi. We have a property in Bangalore in joint ownership of my and my mothers name. I want to transfer the property completely to my mothers name. How can I do that? Do I need to do gift deed? What are the steps to complete the transfer?

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ajay sethi (Expert) 15 July 2012
you will have to execute gift deed in favour of your mother . have it duly stamped and regsitered . contact a local lawyer

ashutosh mishra (Expert) 15 July 2012
As it is in joint name of you and your mother,i think ,Sir Sethi would not mind if i advise you to make a registered relinquishment deed in your mother's favor.
Since you are out of country you may choose to do so by a registered POA.

Satya (Querist) 16 July 2012
Thanks for the quick response. Can you please let me know if my mother will have to go to Bangalore or can my brother take the signed deed and get it done without me or my mother present which registering it?

ajay sethi (Expert) 16 July 2012
for gift deed presence of both is necessary for registration . stamp duty is higher around 2 %of value of ptoperty .

as ashutosh suggested relinquishment deed can also be done . however for relinquaishment deed you have to appear for registartion purposes . stamp duty is nominal .

you cna give POA for relinqushing your interests in property .however registartion of POA is necessary

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