Gift deed should be executed by your mother in your name for her share in property
2) it should be duly stamped and registered
Best way to transfer ownership to self as sole owner of property currently co-owned with mother
I currently am joint owner with my mother of a property in Trichur, Kerala. Although she has willed her portion to me on Her Will, there is concern that the Will could be contested. Hence we are looking at ways to transfer complete ownership to me. What’s the best way which will cost the least and be irrevocable and least subject to challenge in the courts? Gift Deed? Settlement Deed? Followed by registration in my name? Please suggest the best way.
Asked 4 years ago in Property Law
Religion: Christian
16 Answers
If this is inherited property than you can take on your name by preparing relinquish deed.
If this property is purchased on her and your name than you can go for gift deed or quit claim deed.
Hello,
Gift deed will be the correct option.
Regards
1. Well, if your mother is still alive then she can make a deed of gift in which the stamp duty is minimum.
2. Deed of settlement also requires stamp duty which is more than the gift deed.
3. So gift deed is best option.
Gift deed would be the best option. Get the registered. Gift to close relatives is free of registration charges.
Mother can gift you her share by registered.gift deed.
The registered gift deed is best way to transfer the ownership without consideration.
Your mother and you are co-owners of the property having half share each. Get a Relinquishment Deed of half share of your mother executed in your favor and registered in the office of concerned Sub Registrar. In this way, you will become the owner of entire property by virtue of title deed in favour of you both read with Relinquishment Deed. It's a practical and economical mode of transfer.
You can contest everything in court. Including will, sale deed gift deed etc if the same are made against provisions of law
First get the WILL Deed cancelled by her.
Gift Deed would be better option, get the same executed and registered before concerned Registrar by paying appropriate stamp duty and registration charges.
Other Deeds will cost you more.
Release deed.
better execute registered will in presence of two witnesses or execute Gift deed it should be duly stamped and registered.
1. Get the gift deed registered by your mother in your favour conveying the title of the said property in your name.
2. Since the transfer is between blood related persons, the stamp duty to be charged for registering the gift deed will be minimum.
- A Will becomes enforceable only after the death of the testator. It gives absolutely no rights to the person who inherits until the death of the testator . Further It has no effect during the lifetime of the testator.
- Since, your mother has already executed WILL in favour of you , and if you think it is unchallengeable by any third person , then it is also sufficient for you to take the remaing portion of the property.
- Othewise, as a permanent solution , Tell your mother to execute a Registered Gift Deed in favour of you.
- A Gift Deed , is a Legal Document that transfers a title to real property from one party to another.
Good Luck and dont forget to rating Positively,
The best way to transfer the ownership of the property on your name from your mother is a Relinquishment deed from her in your favour.
The deed should be duly stamped and registered in the office of sub registrar.
REGISTERED GIFT DEED
You can ask your mother to execute a registered gift deed in your favor in respect of her share in the property.
This will make sure that you are an absolute owner of the property with clear and marketable title.
The costs and the stamp duty may be enquired from local registrar's office.
