Release deed

 

You are probably looking tax efficient mode.

The stamp duty and other charges are state subject.

Check in your state…

 

And go thru:  

Central Government Act

Section 17 in The Registration Act, 1908

 

https://indiankanoon.org/doc/561156/

 

TRANSFER OF PROPERTY ACT,1882

122. "Gift" defined
"Gift" is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person, called the donor, to another, called the donor, and accepted by or on behalf of the donee.

Acceptance when to be made-Such acceptance must be made during the lifetime of the donor and while he is still capable of giving.

If the donee dies before acceptance, the gift is void.

123. Transfer how effected
For the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.

For the purpose of making a gift of movable property, the transfer may be effected either by a registered instrument signed as aforesaid or by delivery.

Such delivery may be made in the same way as goods sold may be delivered

https://dolr.nic.in/Acts&Rules%5CTransferOfPropertyAct(1882).htm

 

Instance of mere space filling to a great extent on the part of an expert in the name of advice!

 

Originally posted by : Vaishnav
	Dear experts, I have a query on getting release deed from my aunt (Sister of my father) regarding ancestor's property. We have plan to do house partition among us (Uncles, i.e.. Elder brother of my father and younger brothers of my father) on our ancestors property old house at Thanjavur (Built by our great grand father on 1950's). However, my aunt is ready to sign while on the partition as she already got married on 1970's with adequate expenses which equates property value now, where my dad's is not like to be so. On the other hand, son of my aunt who is married now claims the house as equal since that is ancestors property and least bother about the expensive marriages which has no proof for that. Now my concern here is whether getting release deed from my aunt is sufficient along with this partition. If so whether my aunt's son can still claim on this case. Thanks in advance.

 

Aunt's expenses have no concern with the share of property, if that becomes due to your aunt as per law of the land. However, if your aunt is ready to issue a release deed for her share in your favour, son of your aunt may not have any say in her share if disposed of in your favour.

 

Thanks a lot for all your opinion sirs. As said earlier, let me take an advise on local senior advocate with all relevant documents and get it cleared by having a chance of face to face discusion.

Originally posted by : Vaishnav
	Thanks a lot for all your opinion sirs. As said earlier, let me take an advise on local senior advocate with all relevant documents and get it cleared by having a chance of face to face discusion.

Dear LCI querist @ Vaishnav,

You have rightly decided.

In this thread also let us wish IT=@PSD eternal peace and sleep.