gift deed and release deed
Querist :
Anonymous
(Querist) 31 August 2010
This query is : Resolved
I wants to transfer my self acquired immovable property to one heir only, have done so by a registered will but on the contrary expecting trouble from my other legal heir wants to do something concrete (at the same time reduce expenses of stamp duty) Gift Deed also attracts same Stamp duties as sale deed.
Please advice any other option involving less expenses and simple way?
I have though of this way 1.Gift part of the assets by a registered gift deed there-by making my heir co-owner. 2. Then release/ relinquish by a registered deed rest of the asset to the heir who is co-owner at the time of relinquishment.
Is This Ok legally? What minimum portion is required to be gifted previously to make co-owners? 25% or 50%. ?
Uma parameswaran
(Expert) 01 September 2010
Minimum portion can be fix as per your wish.
