Relinquishment father-in-law (Sasur)->Daughter-in-law (Bahu)

Querist : Anonymous (Querist) 23 April 2010 This query is : Resolved
Myself (man) and my father are joint owners of a commercial property.

* Can we give this property to my wife [my father's Daughter-in-law (Bahu)] by way of Relinquishment deed (the most cost effective way)?

* Or such a deed is not possible from father-in-law to daughter-in-law and is only possible in blood relations?

If above is not possible then what are the alternatives and some idea on costs please.

There is no problem between fammily members and they can sign as witnesses.

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R.R. KRISHNAA (Expert) 23 April 2010
A gift deed is a good alternative.

Querist : Anonymous (Querist) 23 April 2010
Mr. Krishnaa, could you also clarify if relinquishment deed is possible in my case or not?

Raj Kumar Makkad (Expert) 23 April 2010
Relinquishment deed can be made by sasur in favour of his bahu and relation of bahu comes in the same category as of blood relatives.