joint property transfer - residential flat
1 year ago
myself and my friend jointly purchased a residential flat during 1989. We planned to built a DupleX house with a common wall. The building plan was approved by corporation of madras. i started building my portion of the building in 1995 and my friend did not start to build his portion. instead, he made a Gift Deed to his younger brother transferring his has share of ownership to his brother. I have not joinly executed the deed but I was aware of the deed. Subsequently his brother built his portion of the building in the Duplex house, in the year 2000. We were living since then in our portions. Now my firiend"s brother wants to sell his portion to a new person.
i contacted an advocate at Chennai and he advised me to get Release Deed executed for my portion of superstructure and land.
1. Whether both my friend and his brother need to execute Release Deed for me? because, the gift deed executed by my friend may not be correct since i have not jointly signed in the Gift Deed.
2. legal Advises , if any may kindly be suggested/
Yes, Joint owners can always gift their share of the self acquired property to any one she/he chooses, hence in your case the gift deed made by your friend is valid.
In regards to the release deed, only your friend's brother is required as he is now the owner of that share of that property.
Thank you so much, I hope this answer helped you.
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