Release deed?

Ruturaj (Querist) 25 May 2014 This query is : Resolved
I am jointly holding shares of a flat along with my son and wife. We (myself n wife) want to delete my name from the shares and from the membership and give the entire membership and shares to the joint holder i.e my son. What is the procedure to do this.

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ROHIT SHARMA (Expert) 25 May 2014
1. Make an notarized affidavit and submit to the Secretary of the Society.

ajay sethi (Expert) 25 May 2014
you have to execute relinquishment deed in favour of your son . have it duly stamped and registered .

Rajendra K Goyal (Expert) 25 May 2014
Either gift deed or relinquishment deed has to be executed and got stamped and registered,

Anirudh (Expert) 25 May 2014
Gift Deed will involve payment of huge stamp duty, which can be avoided. As rightly suggested by Mr. Sethi, relinquishment deed is the appropriate step in your case.

Raj Kumar Makkad (Expert) 26 May 2014
Relinquishment deed is required to be got registered in the office of registrar which shall be cheap and easy way to fulfil your desire.

Ruturaj (Querist) 26 May 2014
Thank you, all.

ajay sethi (Expert) 26 May 2014
thanks for your appreciation

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