Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

PGG   30 July 2015

Release deed

A friend of mine has his case details as below

  • Father expired and as per his will the house is given to the mother and after his mother it is to be sole property of my friend(life interest clause is not present). The will is notarized and not registered
  • Right now on the scoiety share certifcate the mother's name is reflected as per the will
  • My friend has a brother and sister and along with his mother they have all signed and registered a release deed on the name of my friend

Now after presenting the release deed to the society to get the NOC, the society's legal guy claims that release deed is not a valid transfer document in this situation and is insisting that my friends mother needs to execute a gift deed or a sale deed

They also claim that release deed cannot be done in case of self acquired property. My friends lawyers seem to suggest that release deed is good enough. They also say that anyone can execute a release deed relgardless of whether the property is ancestral/self acquired. Also there seems to be an interesting clause which says that if its jointl enjoyed by the family then it can be considered ancestral(My friend and family and his brothers family both use the house jointly along with the mother).

So my questions are is the release deed invalid document(if yes which clause in the stamp duty act or property transfer act says so)

Is the property required to be ancestral only? if required to be ancestral what law says so, a reference to the same or any decisions by high court/supreme court would be helpful.

Also does the society have any right to direct a member to go only for a specfic document registered or their powers are limited to verifying if a valid document exists?

Thank you in advance.



Learning

 3 Replies

Advocate Rohit (Advocate)     30 July 2015

Hello! Society is right in its view. Your friend can either get the property in his/her name through Registered Gift Deed or by way of sale Deed. Since, your friends mother is the owner of the flat and alive, then how come release deed can be used as of now??? for geting the ownership. Your friend may apply to include his/her name for joint owner of the flat. the society can do it with the NOC from the other family members of your friend.

Further, You can ask your friend to get the registered will prepared from the mother in his/her favour for the said flat and other assets, if any.

Regards

Adv. Rohit Dalmia

9324538481

Mumbai

PGG   30 July 2015

Thank you sir. Its a independent house and not flat. So what you are essentially suggesting is a joint name on the share certificate is possible?

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     30 July 2015

Co-owning a property can be beneficial for married couples because if one of the partner dies, the surviving spouse automatically becomes the sole owner of the house. So, the transfer of rights becomes easy.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register