Gift deed vs relinquisment deed
Gavin.....
(Querist) 26 July 2012
This query is : Resolved
A flat is being transferred between blood relations(Sister to brother).
What is the cheapest option for the flat transfer Gift deed or relinquishment deed?
Please guide
A V Vishal
(Expert) 26 July 2012
Where are you from? Stamp duty varies from state to state. In AP gift & relinquishment deed carry the same stamp duty.
Anirudh
(Expert) 26 July 2012
If both the brother and sister already have a share in the said flat, then the sister can give a Registered release deed.
If the brother does not have any share in the flat in question, and it is only the sister who has complete share in the flat, then Release deed cannot be given. It can only be a Registered GIFT Deed.
As rightly pointed out by Mr. Vishal, in many of the States the Stamp duty for both release deed and gift deed are same.
Gavin.....
(Querist) 26 July 2012
Id like to add that the flat is in mumbai
