Partition deed vs release deed
Venkata Srikanth
(Querist) 01 March 2016
This query is : Resolved
Suggest whether we should go for partition deed or release deed, for transfer of property from my father's name (who died on 24.01.2015) to our name. He has 2 properties on his name - one property is acquired from his father and other property is self acquired.
Before his death in the year 2003 he orally told that self acquired property will be to my elder brother and the ancestral property will be to me.
For transfer of ownership which one is better a partition deed or release deed. which is more legally authentic.
we have one elder sister and also our mother. Does all four are equal share holders of the mentioned properties. Any how my mother and sister do not any share. In which case can we take no objection letter from my sister as well from my mother.
P. Venu
(Expert) 01 March 2016
If your father had expired intestate, all the four shares are entitled to equal shares. A family settlement could be worked out and deed executed to that effect.
Venkata Srikanth
(Querist) 01 March 2016
Thank you Mr Venu. Yes my father was expired intestate. How does a family settlement deed works.
Adv. Yogen Kakade
(Expert) 01 March 2016
Merely orally telling about the distribution of property does not affect the provisions of the Indian succession Act. The ancestral property shall be divided among all the successors and the self acquired property shall also be distributed among the legal hairs. You can go for a settlement deed with the terms agreed with mutual consent.
Adv. Yogen Kakade
Jurycon Incorporation
Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in Call: 020-65248888
Venkata Srikanth
(Querist) 01 March 2016
I suppose settlement deed will work in case of any disputes. As of now we dont have any disputes. we want the process to be smooth so that in future there will not be any disputes. Please suggest.
Dr J C Vashista
(Expert) 02 March 2016
I agree with experts for registered settlement deed.
