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Property division
3 years ago
Father (late) earned property in mother's name (alive) have to divide among her children ( two daughter and one son). What r d clauses, best deed and their cost
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
The most widely used means of transferring or acquiring a property is through the execution of SALE DEED, But, sale deed may not always be a tax-efficient (or) cost-effective mode. However, If there are multiple owner for a property, and if one of the co-owner wants to transfer his/her rights in the property to another co-owner(s) then this can be done through the execution of RELINQUISHMENT DEED. The transfer of property through Relinquishment deed can be for consideration or without consideration (without any exchange of money). Like gift deed, this transfer is also irrevocable.
The most widely used means of transferring or acquiring a property is through the execution of SALE DEED, But, sale deed may not always be a tax-efficient (or) cost-effective mode. However, If there are multiple owner for a property, and if one of the co-owner wants to transfer his/her rights in the property to another co-owner(s) then this can be done through the execution of RELINQUISHMENT DEED. The transfer of property through Relinquishment deed can be for consideration or without consideration (without any exchange of money). Like gift deed, this transfer is also irrevocable.
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A.Hi,
You may opt for relinquishment deed If there are multiple owner for a property, and if one of the co-owner wants to transfer his/her rights in the property to another co-owner(s).The transfer of property through Relinquishment deed can be for consideration or without consideration (without any exchange of money). Like gift deed, this transfer is also irrevocable.
You may opt for relinquishment deed If there are multiple owner for a property, and if one of the co-owner wants to transfer his/her rights in the property to another co-owner(s).The transfer of property through Relinquishment deed can be for consideration or without consideration (without any exchange of money). Like gift deed, this transfer is also irrevocable.
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A.Dear Sir,
Take NOC of mother and get divide property among children by way of family settlement or partition.
Take NOC of mother and get divide property among children by way of family settlement or partition.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.so now property is in mother name.
if she agrees then gift deed is best and cheapest.
if she agrees then gift deed is best and cheapest.
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