Property transfer after death of father
Rahul
(Querist) 23 March 2022
This query is : Resolved
Hello sir
My dad expired intestate. He was the sole owner of property. Dad had done nomination in society as under.
Wife 50%
Son 25%
Daughter 25%
What all options available on his wife i.e my mother to become owner of the property.
Regards
Dr J C Vashista
(Expert) 24 March 2022
Nomination do not confer title of the property, which would devolve / succeeded equally between all of his LRs.
Rahul
(Querist) 24 March 2022
Thank you sir
What will be the process of release deed in this case?
kavksatyanarayana
(Expert) 29 March 2022
If you and your sister release both your rights over the property to your mother, you both shall execute and register a "Release/Relinquishment deed" in your mother's favour. It will cost 1 to 3% of the Market Value of the property. The stamp duty rates vary from one State to another State, you can consult in local SRO.
Dr J C Vashista
(Expert) 30 March 2022
There is no stamp duty ( it is just Rs. 100/- stamp paper) for registration of a Relinquishment Deed in Delhi, which differs from a State to another, check through local Sub-Registrar / Document writer / lawyer.
P. Venu
(Expert) 14 April 2022
Yes, the property is jointly vested with all the legal heirs. The children can execute the relinquishment deed so that the mother would be the sole owner.
