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Share release deed - flat

(Querist) 12 October 2013 This query is : Resolved 
I have a joint flat in three name first name is my mother inlaw second my wife and third mine. My mother inlaw wants to release her 1/3rd share in favour of her daughter. Is RELEASE deed advisable or is GIFT deed. As GIFT deed would cost me over a lakh is Release deed the best. Let me know the how about to register. Regards
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ajay sethi (Expert) 12 October 2013
gift deed attracts 2%stamp duty in mahrashtra . deed of relinquishment in favour of relative attracts nominal stamp duty .
prabhakar singh (Expert) 12 October 2013
Any of the two, when registered, would be of equal value in your case, so compare duty expenditure only.
Rajendra K Goyal (Expert) 12 October 2013
You can compare the stamp duty payable and proceed for any one.

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