Right over property.
venkatesh Rao
(Querist) 17 May 2013
This query is : Resolved
My sister and brother in law were taking care of own great aunt and uncle of brother in law who were issuless. They left thier self acquired house under a will to the elder son of my sister and as he was a minor, my sister was made guardian and khata was accordingly made.
The son is now 45 yrs and he has out of his own will executed a relinquish deed in favour of my sister. Then khata changed to my sister. she has been paying taxes and enjoying the possssion.
My question is whether relinquishment deed is enough? OR should her son execute gift deed? can my sister raise loan from bank mortgaging the house?
Learned experts, kindly clarify.
prabhakar singh
(Expert) 09 June 2013
QQQ.My question is whether relinquishment deed is enough? OR should her son execute gift deed? can my sister raise loan from bank mortgaging the house?
ANSWER:A relinquishment deed can not be here what to talk of enough or less.A relinquishment deed is made in favor of a co-sharer or joint owner.A REGISTERED GIFT DEED IS THE NEED TO MAKE YOUR SISTER COMPETENT TO RAISE LOAN FROM BANK.WAS WILL PROBATED?BANK MAY HAVE CONCERN IN THIS REGARD.
venkatesh Rao
(Querist) 10 June 2013
Thanks for the reply sir.
Will is not probated. Only khata stood changed in her son's name. Now can his son NOW execute a registered gift deed? Can my sister get khata changed in her name basing on the gift deed to be executed?
