Krishna Jadhav 28 June 2020
A land of size 18R is purchased jointly by three friends dnyanoba, balaji and shivaji in Latur district of maharashtra. After 4 years dnyanoba and balaji want to give up his share in favor of shivaji for amount of 2 lacks each.
What kind of deed shoud be executed so that stamp duty can be saved?
Is release/relinquishment deed legal in above case of self acquired property?
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Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 28 June 2020
| Originally posted by : Krishna Jadhav | ||
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A land of size 18R is purchased jointly by three friends dnyanoba, balaji and shivaji in Latur district of maharashtra. After 4 years dnyanoba and balaji want to give up his share in favor of shivaji for amount of 2 lacks each. What kind of deed shoud be executed so that stamp duty can be saved? Is release/relinquishment deed legal in above case of self acquired property? |
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1. Friends can execute a duly Stamp Duty paid & Registered Gift or Sale Deed in favor of other owners. Other types of deeds are legally not tenable for such purposes, since they are not blood relations or family members.
Keep Smiling .... Hemant Agarwal
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SHIRISH PAWAR, 7738990900 (Advocate) 28 June 2020
Hello,
Other co owners can execute gift deed in favour of other co owner. Gift deed attract less stamp duty.
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