My mother, me and my brother are the legal heirs of my father's land property. My mother wants to give her share in the property to me. Is relinquishment deed a economical option and what is the procedure for making it? Will it be registered?
Anil pattnaik (Proprietor) 08 September 2010
My mother, me and my brother are the legal heirs of my father's land property. My mother wants to give her share in the property to me. Is relinquishment deed a economical option and what is the procedure for making it? Will it be registered?
Mugundhan (Lawyer) 08 September 2010
Relinquishment or Release Deed may be an economical option, but a partition deed or family setllement would be a better option because u can HUF status, which is beneficial from tax point of view. Consult ur auditor.
Mugundhan (Lawyer) 08 September 2010
A correction to my previous post. Partition or family settlement is possible only if all the co sharers are coming forward. If only ur mother is giving her share to you , a gift settlement would be better option. Whatever may be the case, it has to be registered.
adv. rajeev ( rajoo ) (practicing advocate) 08 September 2010
Sri Vijayan.A (Legal Consultant) 12 September 2010
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