Gift deed vs irrevocable poa + will

Aman (Querist) 31 March 2012 This query is : Resolved
My brother intends to transfer a property which is joint in our name.

Kindly suggest a way to ensure that this transfer is permanent by law and cannot be revoked.

Should I go for a gift deed OR irrevocable POA with will ??

Can a irrevocable POA be revoked under any circumstances ?? If yes, what are they.

Kindly revert asap.

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Deepak Nair (Expert) 31 March 2012
Your brother can execute a deed of release or deed or relinquishment in your favour to transfer his share to you.

vinay vaidhya (Expert) 31 March 2012
Your brother can execute gift deed or Release deed or even settlement deed will do

adv. rajeev ( rajoo ) (Expert) 31 March 2012
Regd., rights relinquish deed is better.

Shailesh Kumar Shah (Expert) 31 March 2012
Ask your brother to execute relinquishment deed in your favour.

Will is also option but you will not get right immediately.

and about irrevocable POA is not advisable.

Rasik Dagli (Expert) 31 March 2012
You should take a registered Release Deed from your brother. An irrevocable POA is not advisable and it will not give you valid title.
Rasik Dagli
Advocate.

Y V Vishweshwar Rao (Expert) 31 March 2012
Ask Your brother to execute and Register Deed of Relinquishment of Joint Rights in your favour for any consideration /Amount

ajay sethi (Expert) 31 March 2012
agree with experts

prabhakar singh (Expert) 31 March 2012
i too agree with experts..

Aman (Querist) 01 April 2012
Thanks ..

There is another angle to the issue as such...

We had taken a joint loan for construction on the property last year in may.. nw the house has been constructed and we have the possession certificate in hand ..

The loan we got was on lower rates as he is a defence employee..

We are informed that if the title of property changes; then loan interest will also rise upwards ( me being civilian) ..

Also i wish to save stamp duty ( circle rate ~ Rs 19K ) and i am not if relinquishment deed would help me do that ..

Pls suggest the right way and the procedure to get it done ...

THanks in advance