Release Deed


Mother n Father were joint owners in a commercial office. Mother expired without making a will. So by default we, her children, 2 sons n 1 daughter, became co-owners with our father. Now we plan to transfer our rights in our father's name via release deed. What are the tax implications n will it attract stamp duty. Please advise.
 
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LAWYER

The stamp duty will be attarcted @ 5% of the  value of the property. 

 
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