• 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 ūüôŹ
Asked 13 days ago in Property Law
Religion: Hindu

First answer received in 10 minutes.

Lawyers are available now to answer your questions.

10 Answers

You can do family settlement deed or relinquishment deed but it should be registered 

Prashant Nayak
Advocate, Mumbai
31907 Answers
179 Consultations

4.1 on 5.0

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 

Ajay Sethi
Advocate, Mumbai
94651 Answers
7522 Consultations

5.0 on 5.0

There is nothing wrong in your partition deed. there is no need to make Release Deed any more. 

Devajyoti Barman
Advocate, Kolkata
22810 Answers
487 Consultations

5.0 on 5.0

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.

 

T Kalaiselvan
Advocate, Vellore
84851 Answers
2185 Consultations

5.0 on 5.0

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.

 

 

Shashidhar S. Sastry
Advocate, Bangalore
5106 Answers
314 Consultations

5.0 on 5.0

yes it should have been a release deed and not partition deed

Yusuf Rampurawala
Advocate, Mumbai
7504 Answers
79 Consultations

5.0 on 5.0

Invalid. it had to be gift deed or release deed. 

Yogendra Singh Rajawat
Advocate, Jaipur
22621 Answers
31 Consultations

4.4 on 5.0

- 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. 

Mohammed Shahzad
Advocate, Delhi
13190 Answers
197 Consultations

5.0 on 5.0

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. 

Krishna Kishore Ganguly
Advocate, Kolkata
27221 Answers
726 Consultations

5.0 on 5.0

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.

Anik Miu
Advocate, Bangalore
8821 Answers
110 Consultations

4.7 on 5.0

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer