Rights Transfer

Well.. In Sale Deed your brother needs to give you the consideration ie. price of the land, while in a gift deed there will not be any consideration and the same will be for the release deed. Normally a sale deed or gift deed will be the right document to be executed in favour of your brother. You will have to consider any one out of both sale or gift looking at your taxation aspect.

Generally, release deed may be for release of yur right from the land and your wife will get full ownership in the land.

However, stamp will have to be paid, which may be the same in any of the above documents.. stamp would be minimum on the jantry value / govt. value...

Thanks for Reply. Is it possible for me and my wife to execute Gift Deed to my brother?

-Thanks
 

U both are registerd a sale deed / gift deed in favour of your brother. The stamp duty is same for both document in Gujarat, if u r from other state first u know about stamp duty.

Release deed can be executed in favour of the existing owner only. What I mean, if A and B are joint owners of a property, A can release his share in favour of B or vice versa. Hence other party shall become the full owner of the property.

Here in this case, you can not release your 1/2 share in favour of your brother, bcos he is not joint owner.

To reduce the registration cost, you may try for settlement. Here in TamilNadu, concession is available for transfer/ settlement within family members

Thanks for reply. In my case, me and my wife, can we execute Gift deed in favor of my brother?I am based in Karnakata.

-Thanks.

I feel you can make it in and by two deeds.

One is transfer of 1/2 share, undivided, by yourself by a deed of settlement, which requires less fee.

Another is transfer of another 1/2 share by ur wife by a sale deed which do not have any concession on fee.

So by these wo deeds, ur brother shall become absolute owner of the whole property.

If he does not want two deeds, both of you can execute a single sale deed but it requires full fee.

Hope I might have clarified you.

Thank you

Thnaks for reply.