LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Anil pattnaik (Proprietor)     08 September 2010

relinquishment deed procedure

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?



Learning

 4 Replies

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

She can execute the rights relinquish deed. It should contain the portion/share should be mentioned.

Sri Vijayan.A (Legal Consultant)     12 September 2010

Release/ relinquise deed only possible and have concession on both the stamp duty and registration fee.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register