Purchase of property acquired by relinquishment deed
Vijaya Bhaskar
(Querist) 31 October 2016
This query is : Resolved
Dear Learned Experts,
My wife has an opportunity of purchasing a house attached to her property which is explained in detail for your kind assistance and needful guidance.
Acronyms
1. A=Father
2. B=Elder Daughter
3. C=Second Daughter
4. D and E= Cousins to B and C
5. F=Daughter of D
6. G=Daughter of E
7. Mr. (A) Father (Widower) has two daughters, elder daughter (B) 55 years old (very mild mentally retarded) married and deserted by husband 25 years back hence living with her father. Later B’s husband married another woman and settled in different place and the second daughter (C) 50 years old married and settled in different place.
8. Mr (A) and elder daughter (B) were living at the said property. Mr. (A) died (19 Years back) leaving (B) and (C) daughters as legal heirs.
9. Since the second daughter is living in a different place and has no interest in the property she proposed to sell the property to their uncle sons Mr. (D) and Mr (E) with a verbal condition to look after her elder sister (B) as she is staying alone at the said property.
10. (C) Executed the sale deed with Mr. (D) and Mr (E) separately in two different sale deeds half portion each and acknowledging the sale proceeds.
11. Now Mr (D) and Mr (E) have become the owners of the respective portions and their names are entered in the record of rights with different CTS nos.
12. Later, Mr (D) gifted his portion of property to his daughter (F) and Mr. (E) relinquished his portion of property to his daughter (G) through Relinquishment deed.
13. Due to requirement of money (G) is willing to sell the portion of her property to (F) my wife.
14. Now F being my wife would like to purchase the property and seek your valuable suggestion and guidance before acquiring it
a. Can my wife (F) acquire this property through a gift deed which helps in minimizing the stamp duty instead sale deed?
b. Can my wife (F) acquire the property through relinquishment deed and what are the implications, stamp duty etc.
c. Is it relinquishment deed permitted only among immediate family members or it is permitted to anybody apart from family members.
d. Is it mandatory to have all the family members of G to put their signatures on the gift deed/relinquishment deed/sale deed.
16. Thanking you in anticipation,
Kumar Doab
(Expert) 31 October 2016
Prefer proper legal opinion from a counsel specializing in revenue/property/civil matters.
Gift; The waiver of duty etc is available amongst relatives in list of relations by the state.
Is F related to G?
Check with your own counsel and in SRO.
Vijaya Bhaskar
(Querist) 31 October 2016
Cousins. F's father and G's father are own brothers.
Dr J C Vashista
(Expert) 01 November 2016
Too long a story, consult a local lawyer.
P. Venu
(Expert) 01 November 2016
The matter requires professional consultation and perusal of documents.
Kumar Doab
(Expert) 01 November 2016
The waiver of duty etc is available amongst relatives in list of relations by the state.
Check with your own counsel and in SRO.
You must have heard;'Buyer Beware'. It is applicable in property deals.
Prefer proper legal opinion from a counsel specializing in revenue/property/civil matters.
Vijaya Bhaskar
(Querist) 01 November 2016
While drafting the story I personally felt it's a long story for which I am sorry, sometimes details will help to provide appropriate guidance.
My primary intention of this query is can my wife acquire this property through gift or relinquisment deed.
adv.bharat @ PUNE
(Expert) 01 November 2016
Yes Vijaya your wife can acquire it by any of eigther two way as per your wish.
Kumar Doab
(Expert) 01 November 2016
Even if everything seems to be OK apparently, Prefer proper legal opinion from a counsel specializing in revenue/property/civil matters.
A few thousand rupees spent on proper legal opinion and verification from trained legal mind and trained legal eyes of a very able counsel can buy you peace and protection forever.
Vijaya Bhaskar
(Querist) 01 November 2016
Thank you so much and appreciate your valuable time given with valuable suggestions.
Rajendra K Goyal
(Expert) 01 November 2016
May proceed as advised by the expert Kumar Doab.
H.M.Patnaik
(Expert) 01 November 2016
Safely you can proceed with Mr. Doab's advice.
H.M.Patnaik
(Expert) 01 November 2016
Safely you can proceed with Mr. Doab's advice.
Kumar Doab
(Expert) 01 November 2016
You are welcome.
