1. Yes mother and sister can make an relinquishment deed in your favour.

2. Yes the amount they received shall be considered as gapital gain as they relinquished there right for sale consideration that is amount. There are plenty of judgement on the issue.

3. Legally it is first necessary to mutate name of all 3 in revenue records further they can make a relinquishdeed which can be registered and you can get their share mutated in your name

Your mother and sister can execute gift deed or relinquishment deed for their one third share in flat

2) your mother and sister can execute sale deed for their one third share in flat

3) you don’t have to pay any capital gains tax

4) apply for mutation of property in your name . Enclose relinquishment or gift deed

Yes your mother and sister can execute a relinquishment deed in your favour giving up their right on the property.

If they receive the amount for relinquishing their right on property they will be liable to pay capital gain tax. Firstly get the property mutated in your and your sister and mother's name. Then get relinquishment Deed executed and get the deed registered. Thereafter get their share mutated in your name.

1. yes your mother and sister can release their respective shares in your favour by executing release or relinquishment deeds

2. yes capital gains tax will be payable. However the cost of acquisition will be taken as the cost to your father for purchase of the property. So from the proceeds which your mother receive from you, the sum equal to the original cost to your father divided by 3, will be deducted from the proceeds and on the balance, capital gains tax will be payable

3. similarly the capital gains tax will apply to your sister

4. the mutation has to be done in order. That is first in the joint names of you, your mother and sister. Thereafter in your sole name on basis of the release deeds

Dear Sir,

My answers are as follows:

1.Can I get the property by asking my mother and sister to execute relinquishment deeds giving up their shares(one-third each) in the property to me ?

Ans: Yes, it may by a) relinquishment deeds b) release deed or b) a merely NOC, if you can manage the authorities. Family heir ship you have to produce.

2.If I buy-out their share in the property from them will they be liable for capital gains tax though it is not a sale ?

Ans: Yes, they are liable.

3.As no mutation has been done since my father's death till date will that have to be done first (entry of my mother's name, my name and sister's name) and subsequently the 2 relinquishment deeds submitted or can the mutation be done straight away in my name by submitting the relinquishment deeds ?

Ans: It is better to transfer directly in your name by producing the relinquishment deeds of your mother and sister.

Dear Client,

To become absolute owner of property, sister and mother have to execute release/relinquishment deed in your favor.

CGT on sale, whether short term or long terms depends on how long property hold after death by legal heir.

Mutation can be done on the basis of relinquishment deed.

1. Yes, by your mother and sister executing a registered release deed in your favor, you can become the absolute owner of the property.

2. On selling their share in the property they are liable to pay the capital gains tax accordingly.

This will be applicable even on they relinquishing their rights for a consideration amount.

3. Yes, you can proceed accordingly.

Relinquishment deed can be executed and same be registered. They can also execute gift deed in the same.