Transfer of Title - Thru PoA or Release Deed or ??
Govind
(Querist) 17 April 2010
This query is : Resolved
My query relates to a piece of farm land that belongs to my late father. All revenue records (patta etc) are still held jointly under my father's name and his two brothers. Both my uncles are fine with passing title to me. What is the easiest and cost effective way to do this? Please note that one of my uncles is terminally ill but his cognitive abilities are very good. So, obtaining a power of attorney is not a long term solution.
Please advice,
niranjan
(Expert) 17 April 2010
Release Deed without consideration.
A V Vishal
(Expert) 17 April 2010
Let your uncles execute a relinquishment deed in your favour.However, it is not clear whether the property is self acquired or ancestral, in case its ancestral then the other family members of your uncles also require to relinquish their right,if not, there can be legal hassles in future.
Govind
(Querist) 17 April 2010
Property is ancestral. One uncle has no issues and the terminally ill uncle has two children. Also, what would the stamp duty, if any, be for a relinquishment deed in Tamil Nadu and is this different from a release deed? Thanks,
Uma parameswaran
(Expert) 18 April 2010
Rs.1/- for every Rs.100 or part thereof the market value of the property which is under release,subject to the maximum of Rs.10,000/-
