Release deed

KiranRane (Querist) 17 May 2012 This query is : Resolved
Currently Property is in Joint ownership of A and B. Now A wants to relinquish his share in the property for Rs. 5 lac. Can on the basis of Release Deed, Home loan can be given to B. Whether Stamp Duty is required to be paid on such deed. Whether it should be on Rs. 5 Lac or entire market value of property. Can u brief me entire process to execute this transaction.

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Khaleel Ahmed Mohammed (Expert) 17 May 2012
Loan can be granted if release deed is executed. Regarding stamp duty,it is applicable for the extent of 5 lacs only.

Nadeem Qureshi (Expert) 17 May 2012
Dear Kiran rane
the Loan depend on the bank, and remaining point Mr. Khaleel rightly advise

Shonee Kapoor (Expert) 18 May 2012
Nothing to be added.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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