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Ramesh Marathe (Liaison Manager)     16 April 2013

Whether a release deed can create co ownership?

Dear learned members, please clarify to the following query.

A married woman owns a self acquired immovable property and she plans to release 1/3rd share of vested rights, title and interest in the said property in favour of her mother for a consideration by a release deed. Is it a valid transfer? If so will they (Daughter & mother) become co-owners of the said immovable property?

Thanks in advance.



Learning

 1 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     10 April 2014

1.  The daughter can Gift 1/3 ratio of the property to her mother via a duly stamp duty paid registered Gift Deed.


2.  After execution of the Gift Deed, the mother will be co-owner only to the extent of 1/3 of the property, and not equal co-owner.


Keep Smiling .... Hemant Agarwal
https://hemantagarwal21.blogspot.in/?view=sidebar
 


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