Release deed
Sandeep
(Querist) 12 July 2012
This query is : Resolved
For agricultural ancesteral property in name of my father (alive) in haryana. can release deed be executed by me in favor of my children using power of attorney from my father. Can it be challenged by my siblings.
ajay sethi
(Expert) 12 July 2012
how is it ancestral property? merely because property is standing in name of your father it cannot be termed ancestral .
your father can execute power of attorney in your favour to do various acts . have power of attorney registered .
your father can gift the property in favour of your sons
Sandeep
(Querist) 12 July 2012
@ Ajay thanks for your advise. The property is ancesteral with us for many generations. Should I prefer release deed or gift deed as there is stamp duty involve in gift deed. My children are nri and minor can they own this property (being agricultural property). Please advise which is more reliable instrument release deed or gift deed. Thanks
Sandeep
(Querist) 12 July 2012
Poa is registered about 10 yrs ago. Thanks
J K Agrawal
(Expert) 13 July 2012
You can execute release deed in favor of your children. no problem at all.
The gift deed involved huge stamp duty in registration so not advisable.
But you can transfer only share of your father which is available to him, if partition takes place among your father and his sons and daughters, and Not the entire land which is shown in revenue record.
It make no difference that your children are RI of NRI.
ashutosh mishra
(Expert) 13 July 2012
One more thing i need to add.
Since children are minors in whose favor Gift or Release ,what ever you chose to be executed as POA of your father,a legal guardian would be required to accept properties on their behalf.
Sandeep
(Querist) 13 July 2012
Thanks Sirs, Land was transferred by my fathers grandfather in my fathers name way back in 1950s and is still showing in his name in revenue records. Does that mean land is his share and can release deed be executed for all of it. What would be claim of my siblings on it once release deed in favour of my children is executed by me using my fathers poa. Thanks for your help
adv. rajeev ( rajoo )
(Expert) 13 July 2012
If it an ancestral property your father can execute the release deed in favour your children to the extent of his share only, because your mother, brothers and daughters have got equal share in that property.
Sandeep
(Querist) 13 July 2012
@ Rajeev thanks for your reply.
JANAK RAJ VATSA
(Expert) 15 July 2012
try and reconcile the necessity of getting into the cycle of release deed/gift deed etc in favour of your children who are either nri or minor while your father is still alive and so you as his legal heir. if after the reconsideration of the necessity, the answer is in affirmative, then go ahead as advised by the learned experts as above
