release deed followed by name transfer of house ?
5 years ago
instead of getting court succession certificate, is it economical to get release deeds from my son and married daughter to grant release deeds in favour of my name and then using those release deeds can i transfer the property in my name and then sell the house of my expired mother-in-law, as my husband died before the death of my mother-in-law ? can release deeds and name transfer in my name solve the issue soon instead of succession certificate for our immovable property house of my expired mother-in-law ?
Ravi Bhushan Pd Sinha
Responded 5 years ago
A.No release deed or succession certificate is required to sell the property. Your son and daughter can jointly sell the property ,as they have inherited the property as surviving legal heir.
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Ravi Bhushan Pd Sinha
Responded 5 years ago
A.After death of your mother in law the property devolves upon your son and daughter ,as they are only surviving class one legal heir . Hence ,there is no need to get succession certificate or any release deed. The property can be sold jointly by your son and daughter any they can proceed to sell the property, as they are legally entitled .
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Deepak Yashwantrao Bade
Responded 5 years ago
A.hallo sir if you want to release deed in favour of you thenthat deed is drafted by a legal expert as per the wishes of the co-owner who wants to give away his shares. For the execution of the same stamp paper is purchased.Relinquishment deed or release is one of the documents which fall under Sec 17 of the Registration Act, 1908 and hence it is compulsory to get it registered at the concerned sub-registrar office. After the registration fee is paid, both the parties and 2 witnesses visit the sub-registrar office on the fixed day for the registration of Release Deed. but you need to consider some issues that, Relinquishment of property cannot be made in favour of a person other than a co-owner. If a Relinquishment is made in favour of a person who is not a co-owner, the transaction shall be treated as a gift and would attract the same stamp duty as applicable on gift deed/ conveyance deed. A relinquishment deed is subject to a close scrutiny by the Sub-Registrar because it is often used to save the stamp duty payable on a gift deed. A release or a relinquishment deed is irrevocable even if it is made without any consideration. For a valid Relinquishment, the property in question must be owned by more than one person. Registered Relinquishment Deed is collected after a week.kindly consult with expert lawyer for drafting deed.
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Ambrose Leo
Responded 5 years ago
A.Yes, You can sell the property in your name and title deed are in your favour,provided the buyer has no issue regarding the property in your name and transferring in his name as per the law.
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ROBERT D ROZARIO
Responded 5 years ago
A.Contact Vidhikarya for allotting a lawyer
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