Release deed with brother
RAMJI
(Querist) 22 May 2014
This query is : Resolved
Dear Experts
Father got his share thro partition among his brothers in year 2002, subsequently expired in 2004 leaving 3 sons and 6 married daughters. During 2008, the three sons made a partition deed on properties except a house at which mother (widow) has been residing with her consent.
Two sons namely X & Y have agreed to share equally a property namely A while the third son Z was given a separate property fully. This partition deed was registered and respective possessions were taken in 2008.Whereas the patta is still on the name of Father who expired.
Since 2008 ppty A was jointly owned and managed by both X & Y on mutual understanding....now that X wants to dispose off his share in A and preferred to sell it to Y himself being brother. Y is also interested to buy share of X as it is family ppty with reputation. Now, queries are as follows:
1. Should it be disposed to Y by way of an absolute sale deed?
OR
2. Should it be disposed to Y by way of a RELEASE DEED?....by just releasing the rights /titles of X to Y at a cost?
3. Can Patta transfer be done after execution of Sale or release deed? or should patta be transferred on the joint name of X & Y before disposing the share of X to Y?
4. Suppose if release deed is done, Will this release deed entitle Y to be absolute owner with clear titles and will this enable Y to be free to dispose whole ppty at a later date if required?.
5. Upon execution of release deed, will any legal heirs of X (his wife & minor son) have any right to claim?
6. Any other solution /views please...
Regards
Ramji
P. Venu
(Expert) 23 May 2014
Why you are posting same query with varying particulars?
Rajendra K Goyal
(Expert) 23 May 2014
Consult a local lawyer and show him all the documents. Daughters have also share in the property.
RAMJI
(Querist) 23 May 2014
Dear Experts...
Thanks for your quickest replies....i too noticed that few queries i repeated by mistake in my another subject similar to this.....any in convenience caused is deeply regretted....
Regards
Ramji
