Release deed
Vishal Sharma
(Querist) 01 March 2012
This query is : Resolved
Hi,
I have purchased a property from Mr.'A' whose original owner was his grand father.
Grand father had 2 sibblings 1 son & 1 daughter, After the demise of the grand father the property was transfered to the father of Mr.'A' & post the demise of the father transfered to the grandson i.e Mr A
Mr A has a sister as well.
Now i want to know if the release deed will come into the picture or not.
If yes how this has to be executed & what are the expenses
V R SHROFF
(Expert) 01 March 2012
grandfathrer's d have rt
sanjeev murthy desai
(Expert) 01 March 2012
If the property is absolutely owned by your grand father then there is no issues to transfer the property in favour of father of Mr. A. Hence after demise of A's father all his properties devolved upon his legal heirs including his widow. However the daughter and widow have to release/gift their 1/3rd share each in the property in favour of Mr.A.
The Release Deed should be in written and it has be registered before competent sub-registrar office.
Vishal Sharma
(Querist) 01 March 2012
Hi Sanjeev,
Thanks a tonne, but how much does it cost>
Does it attract any stamp duty?
Tks
Vishal
Sankaranarayanan
(Expert) 01 March 2012
If the property is ur grandfather's then all sibling have equal right. Better to approach a local lawyer regarding and they will tell the stap duty of local %
R.Ranganathan
(Expert) 04 March 2012
You have mentioned that after the demise of grandfather property was transferred in favour of father of Mr. A, but you have not mentioned the method of transfer whether through will or otherwise. Clarify this and then only it will be possiblte to give a clear opinion about your right in the property and the rights of Mr. A and others
