Suketu Shah 19 April 2024
Hi, Flat was registered under the name of A&B, after the death of A. B has done all paper work likfe affidavit cum noc from all legal hier of a and deleted the name of a in share certificate. Now while selling the houses to the buyer. Bank, from where the buyer is taking a loan is asking for released deed. Is the same necessary, is there any other way out for the same?
Ketan 19 April 2024
T. Kalaiselvan, Advocate (Advocate) 19 April 2024
The legal heirs of the deceased shareholder are required to execute a registered release deed relinquishing their rights in the property and only after that the other shareholder can become an absoloute owner to the entire property
Therefore the bank is right in demanding the mandatory requirement as envisaged in law.
Suketu Shah 19 April 2024
What is the process for the same, its cost and time to get the same done?
T. Kalaiselvan, Advocate (Advocate) 19 April 2024
The stamp duty and registration charges as well as service charges for the document writer can be enquired locally.
Suketu Shah 19 April 2024
After release deed.. is legal heir certificate required?
T. Kalaiselvan, Advocate (Advocate) 19 April 2024
Without a legal heirship certificate the shareholders cannot be ascertained hence it is necessary to have legal heirship certificate
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