K (N/A) 16 May 2014
Dear Sirs/Madam
My elder sister and I are the sole legal heirs of my deceased mother's property in Cherpu, Kerala
The property is still in my mother's name. My sister (an NRI) wants to purchase the property from me for market price.
What Deed is applicable by me here?
1) Release/Relinquishment Deed?
2) Sale Deed?
3) Gift Deed?
Kindly advise the Deed for which there is the least complicated and minimum tax/charges
Thank You
Lawyer SALEEMA (Advocate Madras High Court & Legal Consultant Chennai Law in Law Firm. +91-9698884779) 16 May 2014
You can execute any one of the above said deeds at your option. All the three mode of conveyance are legally permissible as for as your case is concerned. Execution of release deed may not cause huge expenses.
K (N/A) 16 May 2014
Dear Sir,
Thank you for your kind response
Lawyer SALEEMA (Advocate Madras High Court & Legal Consultant Chennai Law in Law Firm. +91-9698884779) 16 May 2014
Advocate Bhartesh goyal (advocate) 17 May 2014
Though you can execute any one document of said deeds but Release/Relinquish Deed is less expensive so you must execute Release/Relinquish Deed in favour of your sister..
Nitisha Jain (Associate Lawyer) 17 May 2014
I agree with Mrs. Saleema and Mr. Bhartesh.
Though all the modes are legally permissible, sale deed and gift deed will call for heavy stamp duty while release deed will take minimal stamping.
Kumar Doab (FIN) 21 May 2014
Agreed with experts.
Get the names of legal heirs ( Virasat) recorded in mutation record (Intkaal or whatever is the term in local language) from Patwari.
Thereafter you can give away your share by any of the deeds mentioned by you.
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