A property purchased by my father and his brother jointly enjoying the property on 50:50 ratio. Now after my father death, we have decided that the entire share of this property to be released to my name. My concern is, can my uncle (father's brother) who holds 50% share in the property do a release deed to my name.
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1) On father demise his 50 per cent share would devolve on your mother , you and your siblings
2) apply for mutation of father share in your names . Your mother and siblings can relinquish their share in your favour
3) Your uncle can execute relinquishment deed to relinquish his share in property
How about the stamp duty. Should I pay stamp duty and if so will that be in full or only for 50% as it is coming from uncle's share and the rest from mother and sibling?
Yes your uncle can make a release or gift deed of his share in your favour.
Stamp duty shall be applicable along the registration fee as the deed needs to be registered with the sub registrar office, Yes you should pay the duty and the stamp duty as per value of the share shall be applicable.
1. Assuming that your father died intestate and as per your narration, your father and your uncle were enjoying the property on 50:50 ratio.
2. On the intestate death of your father, his share of the property would devolve equally to his wife and children.
3. If your uncle, has decided to give his share of the property in your favour, your uncle can gift the property to you and your mother and your sibling/s can execute a registered Release Deed in your favour relinquishing their right over the property in your favour.
4. A nominal stamp duty for the release deed has to be paid (between blood relatives, i.e. b/w you, your mother and sibling/s) and regular stamp duty for your uncle's share to be gifted to you by him.
Yes he along with other legal heirs including your mother or siblings also have to relinquish their share to you
stamp duty would be only on uncle 50 per cent share in property which he gifts to you
similarly stamp amp duty has to be paid on relinquishment by mother and siblings
yes your uncle can execute registered relinquishment deed in your favour.
stamp duty is state subject varies from state to state pls consult a local property lawyer.
He can release his share in your name but your father share will vest in surviving legal heirs equally, your mother/sibling etc.
Stamp duty payable on complete share to be released.
/since your father and his brother have jointly hold the property, as legal heirs of your father, you and your siblings and your mother must seek partition of the property into two parts and to allot one such equal share to you people, after which you the legal heirs of your father can decide about enjoying the property individually or jointly or on anyone's name itself by following the process of law.
Your uncle need not give a release deed
For partition deed, you may have to bear the stamp duty and the registration charges for your share of property alone.
Yes he can give you a relinquishment deed in your name to give up his share in property and hand over the ownership rights to you.
