Compensation for acquiring property by releasing ko nominees
2 years ago
If I acquire a property by relinquishment of co-nominees, through release deed. How can I compensate monetarily to the co-nominees in a legal way?
A.Hi,
You can mention the amount of consideration in the release deed itself and get it registered. You have to register the deed within 4 months of time and should pay the stamp duty depending upon the consideration amount.
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You can mention the amount of consideration in the release deed itself and get it registered. You have to register the deed within 4 months of time and should pay the stamp duty depending upon the consideration amount.
Please rate my answer
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A.You can mention the consideration amount in the relinquishment deed to record the payment of the money for future use but be sure that when you mention that in the deed then you will have to pay stamp duty on the consideration amount.
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