Ramesh Marathe (Liaison Manager) 16 April 2013
Dear learned members, please clarify to the following query.
A married woman owns a self acquired immovable property and she plans to release 1/3rd share of vested rights, title and interest in the said property in favour of her mother for a consideration by a release deed. Is it a valid transfer? If so will they (Daughter & mother) become co-owners of the said immovable property?
Thanks in advance.
Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 10 April 2014
1. The daughter can Gift 1/3 ratio of the property to her mother via a duly stamp duty paid registered Gift Deed.
2. After execution of the Gift Deed, the mother will be co-owner only to the extent of 1/3 of the property, and not equal co-owner.
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