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John (Business)     14 December 2013

Heirs ready to give up their rights on property. but how?

Hi Lawyers,

 

My mother owned a single property and a house in the property.

 

I have 1 sister (widow) and she has 3 kids (adults)

 

My mother expired intestate and now my sister and her kids want to gift their rights of their property share from my mothers property and make me the owner of the property.

 

3 questions:

- Will the Gift deed be valid/legal because the property is in the name of my mother. And I read somewhere that to proceed with a gift deed the property should be in the name of the individual who makes the gift. Should the property be in he name of my sister and her kids or can they directly proceed with the gift deed?

 

- Can my sister and her kids sign a single gift deed in my favor to transfer their rights/share?

 

- Because 50% of the property belongs to my sister and her kids, will the stamp duty be calculated on the market value of the entire property or only the 50% of the property share that belongs to them.

 

I need your expert advice. Please help me.

 

Thanks!

John



Learning

 8 Replies

Laxmi Kant Joshi (Advocate )     14 December 2013

John you and your sister have to get legal heir certificate then after getting that she and you both will be the owner of1/2-1/2 share of your mothers property, now she can gift you her share by marking a registered gift deed in favour of you .

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     14 December 2013

1.  Only a Title-Owner, can execute a Gift Deed,


2.  It would be best to duly execute and register a "Family Settlement Deed", with all the interested parties, unconditionally relinquishing their rights in your favor.


Keep Smiling .... Hemant Agarwal
https://hemantagarwal21.blogspot.in/?view=sidebar

John (Business)     14 December 2013

Thanks Laxmi Kant and Hemant for your timely responses.

 

@Hemant Agarwal and other lawyers:

 

- Is Family Settlement Deed and Reliquinshment deed same?

 

- In the Family Settlement deed can my sister and her kids say that they are giving up their right/share of the property to me? Or should I get a Reliquinshment deed signed by my sister and her kids before making the Family settlement deed?

 

Thanks and Regards,

John

 

T. Kalaiselvan, Advocate (Advocate)     14 December 2013

John,  it is very simple, prepare a 'Release Deed' executed by your sister in your favor relinquishing her rights and interest over your mother's intestate property.  You and your sister are the only legal heirs to your deceased mother, hence the kids of your sister need not sign the papers anywhere, more over the minor's signatures are not valid.

1 Like

John (Business)     15 December 2013

Thanks T. Kalaiselvan,

 

My sister is a widow and her kids are 18+. So in this situation can the release deed be executed by my sister alone or should her kids also sign the release deed along with my sister.

 

Also, most importantly - What is the difference between 'Reliquinshment deed and Release deed? Are they same?

 

Waiting for your response,

 

Thanks and Regards,

John


 

T. Kalaiselvan, Advocate (Advocate)     15 December 2013

John please read my reply once again properly wherein I have very clearly stated that it is only you and your sister are the legal heirs to your deceased mother, kids are not among the legal heirs of your mother so they do not have to sign any where as far as this property is concerned. Further it is not relinquishment deed, it is a release deed wherein your sister will be relinquishing her interests and rights over the property in your favor. Hope this solves your query.

John (Business)     15 December 2013

Thanks T. Kalaiselvan for your valuable advice.

 

I went to a local lawyer here and asked him about the release deed. He says that because my sisters husband is dead, her kids also have right on my mothers property. They also become legal heirs.

 

Is this true that just because my sisters husband is dead her kids along with her become legal heirs? I doubt! Have to check with another local lawyer. I feel as you mentioned that only me and my sister are the legal heirs.

 

Please clarify.

 

Thanks and Regards,

John

Adv. K.S.A.Narasimha Rao (legalquestadvisor@gmail.com )     21 December 2013

Mr. John,

As per Indian Succession Act, when a female inherits any property by way of succession, then such property acquired by her will be treated as individual property as like self acquired property. 

Hence, it is enough to get release deed executed in your favour from your sister as suggested by Adv. Mr.  T.Kalaiselvan.


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