Family settlement or release deed is better

Mustafa Savai (Querist) 09 October 2024 This query is : Resolved
Can 4 brothers in which 1 brother will let go his share in the house property {standing in the name of Mother(expired)}. Later 2 brothers will pay the 3rd brother his share and get the property transferred on their name.
So should a release deed be made or a family settlement deed will be helpful.

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When one brother relinquishes his share of inherited property to his siblings, the question arises whether a release deed or a family settlement deed is more appropriate. While a release deed allows for the transfer of rights, a family settlement is generally considered the best option. It offers an amicable resolution, avoids stamp duty, and makes registration optional, making it both convenient and economical for all parties involved.

Isaac Gabriel (Expert) 09 October 2024
Settlement shal be the best option.

T. Kalaiselvan, Advocate (Expert) 09 October 2024
The brothers who are willing to transfer their rightful share in the property to the other brothers, can release their shares in the property by executing a registered release deed relinquishing their rights in the property.

kavksatyanarayana (Expert) 09 October 2024
Is your father alive? Have you only brothers or are there sisters? Under stamp law and registration law if any legal heir relinquishes his/her rights over the property in favour of all other legal heirs but not only one or two heirs. Then also it will be registered but the stamp duty shall be leviable as a Sale deed.

Dr. J C Vashista (Expert) 13 October 2024
1. There is no stamp duty for Relinquishment Deed in Delhi, accordingly it is economical and convinient in Delhi and other State(s) where it is "Zero" stamp duty/
2. However, Family Settlement is always a "Best" option as it is amicably settled and no objection / challenge, do not attract any stamp duty and registration is optional besides the fact it most convienient and economical.

P. Venu (Expert) 18 October 2024
Yes, settlement deed is the best option and the same needs to be registered.

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