My father has passed away and the house he owns in Mumbai have three legal heirs. Myself(his son), my sister(his daughter) and my mother (his wife). Both my sister and mother are ready to give me POA with respect to this property, so that I can sell this house by myself in the future. My question is whether a release deed is required in this case or can I sell this house later on using the two POAs and my signature? This is urgent. Kindly reply.
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1. Transfer of property to you through Release Deed is the correct way to adopt.
2. You are going to become the absolute owner of the property subsequent to release Deed executed by your mother and sister and thereafter you can sell or do whatever you wish to do.
Hi, Suggest to go for registered release deed. POA is not the legal way for property transfer. There are plenty of supreme court directions against using POA for property transfer.
1) POA can be revoked
2) better your mother and sister execute relinquishment deed or gift deed in your favour
3) have it duly stamped and regd
A POA will authorize you to only sell the property but they will have the right to claim their share in the sale proceeds unless it has been preceded by execution of a relinquishment deed by them.
I am aware that Release Deed is the best way in securing the property in my name. But in this case there are several constraints: 1. My sister is an NRI, so for just signing the release deed she has to come to India, which is difficult in terms of cost/time implications as well as her having a small baby to take care. 2. I was given to understand by a local lawyer that the registration fees will be much higher as this is not a forefather property (grandfather--->father---> son (heir) . So my question is if my sister and mother gives me POA, would I be able to sell this property on this basis alone? I would appreciate clear answers from Mumbai based lawyers.
1) if POA is registered You can sell the flat
2) sub registrar office insists on regd POA for sale of property
1. She does not have to come to India as she is free to execute a GPA in favour of any of your relatives in India to authorize him/her to execute the sale deed on her behalf. This GPA would have to be attested at Indian Consulate in her country.
2. Authority to sell the property and conveyance of title is not one and the same thing. Without release deed the title will not pass to you.