Release deed or partition deed
ganesh
(Querist) 10 August 2012
This query is : Resolved
Hi all,
I am from hindu family.My father got some ancestrol property.I am having four sisters.All are married.Now my sisters want to release their rights over my father's property by taking some amount or some property.Which deed is better to execute...release deed or partition deed ? As in our case Partition deed is economical than release deed.A response will be highly appreciated.
Adv.R.P.Chugh
(Expert) 10 August 2012
A partition deed also works in effect as a release vis-a-vis some property and creation of interest in the others. Go in for a partition deed.
Raj Kumar Makkad
(Expert) 10 August 2012
As your sisters have to relinquish their shares in your favour so there is no use of partition deed. Only and only Release Deed which is also called as Relinquishment Deed in some States should be got executed and registered in your case as the same is very very cheaper than any other mode of transfer of ownership.
ganesh
(Querist) 10 August 2012
Thannq very much Bharat sir and raj kumar sir for giving valuable information.But i came to know that Release deed is more expensive than partition deed.we have to spend stamp duty for 4/6 of our property for release deed from my 4 sisters.Which will be a huge amount...If i execute partition deed from my sisters,Could it be a problematic in future.Please clear my confusion sir...Thanking u sir
ganesh
(Querist) 13 August 2012
Thannq very much Bharat sir and raj kumar sir for giving valuable information.But i came to know that Release deed is more expensive than partition deed.we have to spend stamp duty for 4/6 of our property for release deed from my 4 sisters.Which will be a huge amount...If i execute partition deed from my sisters,Could it be a problematic in future.Please clear my confusion sir...Thanking u sir
Hemant Agarwal
(Expert) 14 August 2012
1. If the property is already mutated in the name of sisters, then the sisters can individually make a gift deed of the property.
2. IF not the above, THEN execute a partition deed, duly registered.
Keep Smiling .... Hemant Agarwal
ganesh
(Querist) 15 August 2012
Thannq hemant agarwal sir
