Ownership

Querist : Anonymous (Querist) 18 August 2011 This query is : Resolved
Sir, my father purchase a flat through GPA and after some time he sale flat my mother through sale deed. My mother died without any will and survive by four legal heirs including my father now we all relinquishing our right in favor of my father, is it possible?

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ajay sethi (Expert) 18 August 2011
yes you can relinquish your rights in favour of your father . execute deedof relinquishment

Devajyoti Barman (Expert) 18 August 2011
Yes , it is possible. Alternatively you could execute a gift deed as well in his favour in which eventuality you face with lesser stamp duty.

Advocate Bhartesh goyal (Expert) 18 August 2011
I do agree with experts.

R.Ramachandran (Expert) 19 August 2011
Relinquishment Deed is the correct option rather than GIFT Deed. While relinquishment deed will involve very nominal stamp duty, GIFT Deed would involve NORMAL stamp duty as applicable to Sale.
Therefore Relinquishment Deed is the best option. BUT REMEMBER, THE SAID RELINQUISHMENT DEED IS TO BE REGISTERED. WITHOUT REGISTRATION, THE RELINQUISHMENT DEED HAS NO VALIDITY AT ALL.

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