• Release deed on death of one of joint owner

Residential flat is jointly owned by Mr A and Mrs A in 2003. Mrs A dies in 2007. The said flat is being sold in 2020. Mr & Mrs A has two children. Now for executing sale in 2020, only one of joint owner ie Mr A is alive. Whether release deed would be necessary? The flat is located in Maharashtra. If release deed is not necessary, then how to ensure sale deed gets executed now with only one of the joint owner alive. Further if release deed is needed, then whether stamp duty and registration charges would be levied? If yes, then can you pl state the rate of stamp duty.
Asked 4 years ago in Property Law
Religion: Hindu

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19 Answers

After the death of MRS A the property will be transferred to the legal hairs that is children and husband and increase the property has not been transferred in the name Satya legal Heirs then legal hairs have to give the relinquishment deed in favour of one of the title holder so that the title holder will be able to transfer the property in your case in case relinquishment deed has been given by the children to their husband who is also a title holder then he will be able to transfer the property and execute a sale deed

Vimlesh Prasad Mishra
Advocate, Lucknow
6852 Answers
23 Consultations

4.9 on 5.0

As such release deed is not necessary but for share of Mrs. A all her legal heirs shall sign the sale deed.

See on demise of Mrs. A her legal heirs are owner of her share so fir executing a sale deed with less cost all of them need to sign or they can give power of attorney to Mr. A for executing sale.

Going for release deed shall be costly you will incure stamp duty and registration directly sale can be executed.

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

Power of attorney as all are blood relatives is best way if only Mr. A is present.

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

On demise of MRs A her husband and 2 children would inherit her share in flat 

 

2) children can execute gift deed or relinquishment  deed . It should be duly stamped and registered 

 

3) stamp and duty and registration charges would be levied 

 

4) it would be around 3 per cent for their share in property . 

Ajay Sethi
Advocate, Mumbai
94809 Answers
7553 Consultations

5.0 on 5.0

Stamp duty would be as per market value of the property 

 

it would be as per ready reckoner rates 

Ajay Sethi
Advocate, Mumbai
94809 Answers
7553 Consultations

5.0 on 5.0

Yes either both child take part in sale or execute release deed in fovor of Mr. A OR give POA to father to sale their share.

Released or gift deed can execute. No stamp duty if transfer between blood relatives.

Yogendra Singh Rajawat
Advocate, Jaipur
22659 Answers
31 Consultations

4.4 on 5.0

You can make the legal heirs a confirming party in the sale deed with averment that she is relinquishing their rights if any in the same. No need of separate release deed. 

Prashant Nayak
Advocate, Mumbai
31968 Answers
180 Consultations

4.1 on 5.0

First you can ask to the seller's legal heirs (two children) names are mutated on the flat.

 

Once all three names are register on flat than sale deed can be made.

 

 

Ganesh Kadam
Advocate, Pune
12932 Answers
255 Consultations

4.9 on 5.0

Hello,

Release deed is not necessary.

Regards

Swarupananda Neogi
Advocate, Kolkata
2964 Answers
6 Consultations

4.7 on 5.0

This is my response to you:

1. You need to obtain letters of administration;

2. Since Mrs. A's share will be equally divided between Mr A and her two children;

3. So it is better that, LOA is obtained;

4. Then the 3 sellers can sell their property to XYZ person;

5. Consult a local lawyer, discuss full facts and take steps.

Gowaal Padavi
Advocate, Mumbai
1920 Answers
5 Consultations

5.0 on 5.0

1. The share of Mrs. A, since deceased, of the said jointly held property has been jointly inherited by Mr.A and his two children.

 

2. Now there are two options for selling the said flat as under:

 

a. Either all the three joint owners being Mr.A and his two children jointly sell the said property duly signing the sale deed while registering it, or

 

b. The two children register a POA in favour of mr. A authorising him to sell the said property including their share in it for and on their behalf. Based on the said registered POA issued by his children, Mr.A can register the sale deed of the said property.

Krishna Kishore Ganguly
Advocate, Kolkata
27220 Answers
726 Consultations

5.0 on 5.0

1.Both the ways suggested by me in my earlier post will cost you the minimum amount.

2. However, the buyer will bear the Registration Cost including the stamp duty which will be decided based on the circle rate of the said flat.

Krishna Kishore Ganguly
Advocate, Kolkata
27220 Answers
726 Consultations

5.0 on 5.0

1. Children of Mrs. A, have to execute a Registered "Release Deed", relinquishing /releasing all their Claims /Rights on property ratio of Mrs. A, in favor of Mr. A. AFTER this using the Release Deed and original Sale Deed, Mr. A will be able to sell the property.
a) Stamp Duty on Release Deed: 500/- in Mumbai
b) Registration Fees on Release Deed: 200/- in Mumbai

2. IF children of Mrs. A, are not alive, THEN "A" has to obtain "Letter of Administration" from Mumbai High Court.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

The share of the wife cannot be transferred to the husband automatically. The wife's property share has to be divided amongst her children. Therefore you need a relinquishment deed.

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

Tell your children to gift their share to you.

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

The property of the deceased is proportionately distributed among the Widow of the deceased and his children. 

Children's can execute registered/gift deed or release/relinquishment deed.

It is mandatory to pay stamp duty as per the stamp duty valuation fixed by the Registrar of your area under the stamp duty act of your state. 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

- As per law, if the Husband and wife acquired the property on their own , and if wife intestate without a will, then her share will belong to the husband under Hindu Succession Act and he can sell the entire property as he is the sole legal heir.

- Hence, Mr A can sell the property without any release deed , but due to buyers safety view, the other legal heir should execute a power of attorney in favour of Mr A , for selling the said property to the intending power and to execute sale deed . 

- Otherwise, Gift deed or Release deed without registration having no value in the eye of law, and further it attract stamp duty as well on the basis of market value of the property. 

- POA attracts nominal stamp value , specially if it is given to family members.

- Further, stamp duty for a sale deed has to be born by the Buyer and not seller. 

Mohammed Shahzad
Advocate, Delhi
13264 Answers
198 Consultations

5.0 on 5.0

The share of Mrs. A shall devolve on her legal heirs consisting Mr.. A and her two children, 

If at all the property is to be sold then all the three have to jointly execute a registered sale deed in favor of the prospective buyer.

Mr. A, besides his own share in the property is entitled top a proportionate share in the property out of the share of his deceased wife, hence there is no question of anyone executing a release deed, all the three can jointly sell the property and divide the sale consideration amount among themselves proportionately according to their entitlement.

T Kalaiselvan
Advocate, Vellore
85010 Answers
2207 Consultations

5.0 on 5.0

By selling the property the buyer only will suffer the stamp duty and the registration charges, as a seller what is your concern about the stamp duty.

 

T Kalaiselvan
Advocate, Vellore
85010 Answers
2207 Consultations

5.0 on 5.0

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