• Release or gift of property

I am the only son of my parents, both my parents have expired, And my mother had left one property (registered), my father dint have property).This property I want to gift my son---what is step by step procedure . which is correct way to directly transfer-------Release deed or Gift deed , plz advise
Asked 4 years ago in Property Law
Religion: Hindu

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13 Answers

Is the property mutated or transferred to your name if it is not first apply for succession certificate and get the property left by your mother mutated to your name. If she has got the property transferred to your name the best option is you can gift the property to your son name but you will have to pay the stamp duty applicable in your state.

Swarnarka Chowdhury
Advocate, Mysore
1878 Answers
5 Consultations

5.0 on 5.0

Dear Client,

Being only son you are absolute owner of property and grand child has no claim in GP`s property, So no release deed,

Gift Deed, registered at sub registrar - nominal fees if executed between blood relatives.

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

1. First of all get your name recorded by mutation in the revenue records for property.

2. if the property is already in your name after demise of your mother you have to make a gift deed in favour of the son. The gift deed has to be registered and stamp duty has to be paid.

Procedure: Get a gift deed drafted in favour of son.

Pay the requite stamp duty and registration fee at the before sub-registrar office where the property is situated.

Present the Gift deed for registration before the Sub-Registrar.

3. Sir, release deed cannot be made here as it can be only made in favour of co owner. And since son is not co-owner gift deed can be made. Further the stamp duty on gift is 3 percent.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Relinquishment deed is a legal document/instrument where a person legally or formally gives up or releases his legal rights of the said property being relinquished in the name of some other person. This is one of the modes of transferring rights of an immovable property.

Ganesh Kadam
Advocate, Pune
12335 Answers
191 Consultations

4.9 on 5.0

A gift deed is a deed in which the consideration is not monetary, but is made in return for love and affection. It is a document which transfers property to another as a gift. Such a deed is often used to present someone with a gift. Transfer of a gift deed can be reported as a gift for federal tax purposes.

A legal document that removes a previous claim or lien on an asset. A deed of release is usually issued once a mortgage or other type of debt, previously secured against the asset, has been paid in full. After the deed of release is written, the asset is owned free and clear by the owner, and any previous claims against the asset that the lender may have had are dissolved.

You can if so required execute Relinquishment Deed which can be executed between blood relations and there is no stamp duty required to be paid as per valuation of property.

Gift Deed on the contrary requires payment of stamp duty.

Ganesh Kadam
Advocate, Pune
12335 Answers
191 Consultations

4.9 on 5.0

Kindly clarify sale deed or sale agreement.

it wont make any difference as such as you are only child(i am supposing this but there are daughter too there can bit difference ) of parents.

Anyway if the property as on date stand on your name even if it is written in sale document you have to register a gift deed to transfer the property it cannot be directly transferred,

To avoid multiplicity of Answers I am updating here only kindly refer:

As there is only agreement to sale no registered sale deed executed, then also the you are owner of property but not based on sale agreement but legal heir so for that first get land mutated in your name file an application with death certificate of parents , affidavit, your ID proof, family rasaan card before Revenue Department/ municipal ( Depending where the property is situated and nature) further after mutation register a gift deed in favour of your son.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

On demise of mother get mutation of property done in your name

2) enclose death certificate of parents

3) then you can execute gift deed in your son name

4) gift deed should be duly stamped and registered

Ajay Sethi
Advocate, Mumbai
87899 Answers
6207 Consultations

5.0 on 5.0

Firstly, there is no save way to direct transfer the same to your son.

Secondly, as the property is coming from your mother then it may be considered as your self acquired one not the anscestral one where right automatically created for the son.

Thirdly, you apply for the succession certificate and get the same transferred on your name.

Fourthly, then you can make a release deed without consideration to avoid any further stamp duty to your son.

Sanjay Baniwal
Advocate, South Delhi
5464 Answers
13 Consultations

5.0 on 5.0

Firstly, you'll have to apply for succession certificate in civil court. Once that is done, you can get the property mutated in your name

After that you can gift your son the said property by way of registered gift deed.

Siddharth Jain
Advocate, New Delhi
5925 Answers
101 Consultations

5.0 on 5.0

1. First you have to perfect your title to your mother's property by obtaining letters of administration from court

2. The mother's flat has to be first transferred to your name

3. Thereafter you can execute a gift deed in favour of your son

4. Another option is the administrator appointed under the letters of administration can execute a transfer deed in favour of your son directly with you being the confirming party

5. You yourself can be appointed as administrator

6. Obtaining letters of administration will take 6 to 8 months. Its a court departmental procedure

Yusuf Rampurawala
Advocate, Mumbai
6878 Answers
79 Consultations

5.0 on 5.0

After transfer the property in your name, thereafter you can transfer the property by Gift Deed to your son as self acquired property to save huge stamp duty. All the best.

C. V. Jadhav
Advocate, Bangalore
545 Answers
18 Consultations

4.7 on 5.0

This is my response to you:

1. First obtain the succession certificate of your mother;

2. Once you obtain that, make sure you being the legal heir are the owner of the property;

3. After the property is transferred in your name, then only you can Gift it your son.

Gowaal Padavi
Advocate, Mumbai
1920 Answers
5 Consultations

5.0 on 5.0

Release deed is not applicable to this situation

You may transfer the property to his name by executing a registered gift deed in his favor.

T Kalaiselvan
Advocate, Vellore
78057 Answers
1543 Consultations

5.0 on 5.0

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