Land sharing

lokesh babu (Querist) 20 August 2012 This query is : Resolved
Dear experts
My father and his brother have 250sqy empty common housing land
Now my father’s brother ready to leave his rights on that land. Now my queries are
1. What is the way of registration required i.e. GIFT or any other type of deeds
2. My father requires a legally strong process.
Please suggest me, urgent

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Devajyoti Barman (Expert) 20 August 2012
1. Gift or relinquishment deed would do.
2. It needs registration.

lokesh babu (Querist) 20 August 2012
thank u sir,
which one most suitable for taking loan on that land.

ajay sethi (Expert) 20 August 2012
relinquishment deed attracts nominal stamp duty . once relinquishment deed is executed your father becomes owner of entire property . you cn aget a loan on property . contact a local lawyer

Sudhir Kumar, Advocate (Expert) 21 August 2012
For taking loan the title should be clear and undisputed in favour of the applicant. So relinquishment deed may be ideal as suggested by Mr Burman and Mr Sethi.