Transfer of property among family members

D V Subrahmanyam (Querist) 17 July 2014 This query is : Resolved
My father expired in 2005 and he has not left any will. He is having two house both are self acquired. He is having one wife, one son and one daughter. We are legal heirs to my father. Now, we wish transfer my mother's and sister's share to me. For any future transactions like obtaining loan and selling the said properties, I need not depend on my mother's or sister's signature. Now, My mother and my sister are willing to transfer their share to me. How to transfer their shares to me. Please guide me which is best and economic way to complete the transfer procedure.

Regards,
D.V.Subrahmanyam

Follow Query

Report Abuse

ajay sethi (Expert) 17 July 2014
by gift deed or relinquishment deed

D V Subrahmanyam (Querist) 17 July 2014
Thanks for the guidance.

I checked in Registration website Stamp Duty for Gift is far lesser than the Relinquishment Deed. Almost double stamp duty when compare with Gift Deed.

What are the differences between Gift Deed or Relinquishment Deed. Which option is best to choose, so that there should not be any future consequences?

After Transfer of Property rights, I wanted to transfer the Title of Property in Muncipal Records and wanted go for Bank Loan. Is this Deed is sufficient to Transfer the title and getting Loan.

Awaiting for your earliest reply, Thanks in advance.

Regards,