Settlement deed or release deed better and cheaper
Clayton Mendonca
(Querist) 01 March 2010
This query is : Resolved
1) Flat (not inherited) in Mumbai was in joint name of Christian father and mother.
2) Father died intestate leaving behind mother, son and daughter.
3) Registration of flat costing Rupees ten lakhs still in the names of father and mother.
4) Mother wants to give the flat to her son completely and absolutely immediately.
5) Daughter wants to give her legal share in the flat to her brother unconditionally without any consideration.
What is the cheapest and best option...settlement deed, release deed, partition deed, etc.? The expense to complete the above should be the cheapest as both the mother and daughter are willing to put the flat in the son's name immediately and unconditionally without any considerations.
Thanks in advance.
adv. rajeev ( rajoo )
(Expert) 01 March 2010
Rights relinquish deed, it is the cheapest way to relinquish their rights to another person. It can be regd,
Clayton Mendonca
(Querist) 03 March 2010
Thanks Adv. Rajeev Vadrali.
The flat does not have the name of the daughter in the registered deed. How can the daughter relinquish her rights to the flat?
Thanks to all in advance.
Kumar Thadhani
(Expert) 03 March 2010
If all the legal reprentatives or lega heirs are agreeable to tranfer the same to theson abosolutely File an application before the REgistrar of Societies if it is cooperatives housing society formed under MCS Act. otherwise you will have get succession order from the High- COURT of you stat e or where you resides.
Clayton Mendonca
(Querist) 03 March 2010
Thanks Adv. Kumar Thadani.
1) Will just filing an application before the registrar of Societies be enough?
2) The daughter is in Gujarat. Can she give a Power of Attorney to her brother to do the transfer of her share to him absolutely Or Does she have to be present here in Mumbai to do the transfer.
Thanks in advance.
