Release deed

Meghal (Querist) 27 June 2011 This query is : Resolved
a mother and son have applied for a mortgage loan.The property was on the name of father and mother.After father's death ,son was a minor that time it was transferred on mother's name by society .Now when we are taking both mother nad son in the structure, he being the only legal heir do we really need to get a release deed done as the cost will be around 5 lakhs.

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Ajay Bansal (Expert) 27 June 2011
If the son has attained age of an adult person,then you have to spent this amount around 5 lacs.

prabhakar singh (Expert) 27 June 2011
i do not think u need if u r sole one and have good relation with mother,it may prove waste of cost unless u have strong reasons2
doubt that your mother may sell her share during her life.

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