Relinquish deed
padmanabha guptha
(Querist) 03 February 2014
This query is : Resolved
Sir,
My mother demised with out any will. She received that property during partition. I believe that, the fallowing are legal heirs to that property.
1) Me and my younger brother
2) Wife of One of my demised elder brothers.
3) Two married Sons and one married daughter to one of my demised elder brothers.
4) One married son and three married daughters to one of my elder brothers.
5) One married son and two married daughters to one of my younger brothers.
6) Myself have one married son and two married daughters.
7) Five grand children of more than eighteen years.
I am managing the asset. All the above mentioned have no objection to transfer asset to my name as per my mother wish.
Sir, Please suggest me the best procedure, how can I get the asset transferred to my name permanently.
Devajyoti Barman
(Expert) 03 February 2014
Get a deed of gift or deed of relinquishment in your favour.
Many of the persons you mentioned in the list have no share in the property of their predecessor in interest had predeceased your mother.
padmanabha guptha
(Querist) 04 February 2014
Sir,
My mother got the property as share during partition. Who are the leagal heirs of property mentioned above?.
V R SHROFF
(Expert) 04 February 2014
Family Settlement or Release Deed
Rajendra K Goyal
(Expert) 04 February 2014
All your brothers and sisters have equal share as legal heir.
If any legal heir is not alive his legal heirs will come into the picture.
Who do not want share can execute relinquishment deed in your favor.
padmanabha guptha
(Querist) 04 February 2014
Sir,
All leagal are situated at different place. Notarized deed is easy for me. Can I go for notarized deed. If yes, how this can be used for the purpose of changing the asset to my name at sub register office and town muncipalty.
malipeddi jaggarao
(Expert) 05 February 2014
Notarized deed will not transfer the title tothe property. You have to go for registration only.
Rajendra K Goyal
(Expert) 05 February 2014
Registered deed would solve the purpose.
uttamtibrewal@yahoo.com
(Expert) 05 February 2014
dear client...
best shall be release deed or family settlement...duly registered....
for any query or help contact me
T. Kalaiselvan, Advocate
(Expert) 05 February 2014
The property which your mother received it through a partition deed will become her own exclusive property and upon her intestate death, the property will devolve equally upon all her legal heirs namely, her sons, daughters, husband. The said heirs are class I legal heirs. Out of the said heirs, if any of the legal heir predeceased your mother leaving behind them their own legal heirs, such legal heirs will inherit the share of property of the said pre-deceased legal heir of your mother. Now, among the entitled legal heirs, if any one wants to transfer their share unto your name, such heir(s) should execute a registered release deed relinquishing his/her/their rights and shares i the property in your favor. Notarized release deed is not valid in law.
R.V.RAO
(Expert) 06 February 2014
sri kalaiselvanji hit it right.
A Regd. release deed from all leggal heirs listed by you will solve your problem.
do not opt for gift deed as some the above listed heirs do not qualify to be relatives for purpose of gift tax exemption .
padmanabha guptha
(Querist) 06 February 2014
Sir,
Is one deed signed by all is enough? or one deed per family is required. And,please inform me the the price of stamp paper in which release/relinquish deed to be executed
ajay sethi
(Expert) 06 February 2014
you have to check stamp act of your state . in mahrashtra in case relinquishment deed is in favour of relatives it attracts nominal stamp duty of Rs 200
