You can do family settlement deed or relinquishment deed but it should be registered
Release vs Partition deed
I have a property of commercial complex which was on joint registration for my father(80%) and mother(20%). My father passed away inestate leaving behind my mother, myself and my sister as legal heirs. Both my mother and sister accepted to transfer property on my name. We went for partition deed(to reduce registration charges)registered at SRO- stating that whole property falls to my share(Market value 2cr) and my mother nd sister would get 50k each. Property mutated on my name. One of my friends recently explained that it will not be valid and asked me to rectify it as release deed. Please advise how to proceed 🙏
Asked 28 days ago in Property Law
Religion: Hindu
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10 Answers
On demise of father his 80 per cent share would devolve on your mother , you and sister as legal heirs
ideally release deed should have been executed wherein they relinquish their share in property
you can cancel the deed of partition by mutual consent and then release deed can be executed by other legal heirs
There is nothing wrong in your partition deed. there is no need to make Release Deed any more.
There's no legal infirmity to get a family partition deed in which the money given to them in lieu of physical properties will be considered as schedule of property allotted to them.
But make sure that it is executed by a registered deed.
1. On the intestate death of your father, his 80% share in the joint property devolves equally to your paternal grandmother (if alive), your mother, you and your sister, each entitled to 1/4th undivided share. Assuming that your paternal grandmother is not alive, then the property would devolve equally to your mother, you and your sister in 1/3rd undivided share.
2. Get the registered Release/Relinquishment Deed executed by your mother and sister for their individual share in your deceased father's 80% share in the joint property in your favour.
3. Subsequent to this let your mother execute a registered Gift Deed in your favour for her 20% joint ownership of the property.
yes it should have been a release deed and not partition deed
Invalid. it had to be gift deed or release deed.
- As per law, after the demise of your father intestate , his share in the property would be devolved upon his all legal heirs equally i.e. each will have 1/3rd share in the property.
- Further, any of the legal heirs can release his respective share in your name after executing a Relinquishment/Release deed , and it must be registered.
- A partition deed is not equivalent to Release deed , and it is for the distribution of the property only , and hence they must execute a Relinquishment /Release deed to make you single owner of the property.
1. Your friend is right. Since your sisters are releasing their shares, it can not be partition deed.
2. Strictly speaking, it should be settlement deed since they have made settlement of their shares by taking Rs.50K from you.
Dear client, A partition deed is an agreement between family members about how to distribute shares. A release deed is a legal document that removes a previous claim on an asset. If you want the whole property on your name then you should make a release deed but no partition deed which is from partitioning the property.
