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ASHALATA (COMPUTER PERSONNEL)     29 August 2010

GIFT DEED & RELEASE DEED

Halo,

The link below has  the Gift Deed & the release deed drafted for execution. Are two deeds required ? Gift deed is entirely different whereas Release Deed is another type of Deed. In this case, the three legal heirs are the father, daughter and the son. The father wants to part with his one third share to his daughter and son. The property stil stands in the name of the deceased (mother/wife) at the Registrar's Office. How to register the property in the name of two legal heirs while the third legal heir relinquishes his one third share?

https://www.lawyersclubindia.com/blog/show_post.asp?blog_posts_id=734

Please reply , urgent. Thanq.

Ash

 




 5 Replies

C Ramasami (B.Sc.,M.A.,B.L.)     31 August 2010

So far as father share related to him may be relinquished by way of release deed in favour of his son and daughter only inspite of no partition was effected among themselves also.

R.Ranganathan (Director)     10 September 2010

Regarding father's share he can either release his share in favour of his daughter or gift it to his daughter. But regarding son and daughter there cannot be a document now except this one document which is to be created. They will be having a joint right in the property. Kindly tell me what exactly is required to help u.

Bharatkumar (ADVOCATE )     10 September 2010

First, u know husband right in wife property and he has legle heirs of his wife thereafter  U registered a release deed.

ASHALATA (COMPUTER PERSONNEL)     11 September 2010

THANQ ALL 4 D RESPONSES. I SIGNED  THE GIFT DEED WHEREIN MY YOUNGER BROTHER AND i R JT OWNERS OF THE PROPERTY ON 03/09/10 BUT MY BROTHER HAS GOT THE DOCUMENTS WITH HIM AND CAUSING DELAY AND FUSS TO HAND OVER MY COPY. THERE IS GOING TO BE UNNECESSARY DELAY SINCE HE & HIS FAMILY R LEAVING INDIA AFTER SHORT VACATION WHICH MEANS I STILL STAY IN RENTED HOUSE AND APPEAR TO BE LIKE A DUMMY WITHOUT BEING ABLE TO USE THE PROPERTY. 

R.Ranganathan (Director)     11 September 2010

in this forum you can get ideas and opinions. you can approach an advocate and get things done through an advocate. When you have not sold your share in the property you have a right in the property. If you want it separated, then you have to go in for partition of the individual shares only.


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