Deed for family properties partition
Mahesh
(Querist) 12 January 2011
This query is : Resolved
Dear Sir/Madam
My father, brothers & myself are equal holders of a house properties. We have equal shares i.e. 1/4th each.
Now we brothers wants to release our shares to each other .
Please advise which options cannot be challenged later by anyone in court & also advise the option which does have any income tax issues....
Please tell whether Gift Deed or partition deed or Release Deed should be chosen ? .
What is Stamp duty Act in Gujarat ? family partition for stamp Duty ? registration fees ?
My question is, what is the best way (and most economical) for me to become the sole titleholder? a) can they release themselves from the property by giving me a release deed? If not, what are the other alternatives? etc?
Advocate. Arunagiri
(Expert) 13 January 2011
Relinquishment Deed is the best choice. You may see the format of the same as the enclosure.
take the help of the local lawyer for registration.
Mahesh
(Querist) 13 January 2011
Thanks a lot Sir,
What is procedure & cost to make it ?
We are residance of Surat City (Gujarat state).
