Regarding release deed
Himasagar T
(Querist) 22 February 2018
This query is : Resolved
I am female resident of Andhra pradesh. My father expired in 2015 without writing any will for open plot (own property). we didn't apply for succession rights. Now My mother and 2 sisters want to release/ relinquish their shares to me without any money consideration. My plot market value is around 20 lakhs. Will release deed and mutation is sufficient for transferring their rights to me? 0.5% registration fee is clear but what will be the stamp duty to release among family members without money consideration in my state?? kindly help me..
P. Venu
(Expert) 22 February 2018
The best course is to execute a settlement or partition deed with your mother and sister relinquishing their rights and interests. Stamp duty and other charges varies from State to State.
Kumar Doab
(Expert) 22 February 2018
Check LOCALLY from jurisdictional SRO….
Obtain legal heir certificate….
Dr J C Vashista
(Expert) 22 February 2018
Check the rate of stamp duty and registration charges which differ from State to State.
Relinquishment deed is valid and perfect, which do not require any settlement deed.
Kumar Doab
(Expert) 22 February 2018
Hope you are satisfied
kavksatyanarayana
(Expert) 22 February 2018
All the legal heirs of your father have equal rights over the property. Now your mother and sisters are ready to release their rights to you. It is better to get a relinquishment/release deed to be executed by your mother and sisters in favour of you. In Andhra pradesh, only 1% stamp duty on the market value of the property or consideration whichever is higher. If they wish to you give the property for their shares, then they should execute a Gift (settlement) deed in favour of you. It also costs 1% stamp duty on the Market value of the property. The 1% stamp duty applicable to only family members (father, mother, brother, sister, son or daughter) in AP.
