Settlement deed vs release deed

Querist : Anonymous (Querist) 27 November 2024 This query is : Resolved
My father had divided his property located in Chennai to his four children percentage wise by way of a settlement deed.
Now my sister wants to give her 25% share of the property to me. What Is the correct way of registering the document? Is it by doing a release deed or it must be by a settlement deed taking into consideration future sale of the full property and also any other legal issues? Kindly advise.

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kavksatyanarayana (Expert) 27 November 2024
Your father gifted his property to his children. If your sister wants to give you her share, she shall execute a Gift settlement deed in your favour.

Dr. J C Vashista (Expert) 28 November 2024
Besides the option of a Gift Deed as advised by learned senior expert Mr. Kavksatyanarayan ji you may also get a Relinquishment Deed registered by your sister in your favour.

Advocate Bhartesh goyal (Expert) 28 November 2024
Yes, your sister can relinquish her share to you by registered release deed.

T. Kalaiselvan, Advocate (Expert) 28 November 2024
If each individual has been allotted wit their respective share in the property with separate possession vide a registered settlement deed, then for transferring her share in the property your sister may do it by executing either a settlement deed or a sale deed to make you an absolute owner of her share of property too.

Querist : Anonymous (Querist) 28 November 2024
Dear Sirs,
Thank you very much for your replies.
One follow up question to the above is, whether with a settlement deed, the absolute ownership of the property gets transferred on to my name with immediate effect or only after the demise of my sister. The same question is with regard to release deed.

T. Kalaiselvan, Advocate (Expert) 28 November 2024
If the registered settlement deed is executed without any conditions then you can occupy the property immediately after the registration is completed.

Querist : Anonymous (Querist) 28 November 2024
Dear Sir,
Thank you once again for your prompt reply.

T. Kalaiselvan, Advocate (Expert) 29 November 2024
You are welcome for your appreciations

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