Release deed to transfer share of sister to brother?
Hi my father passed away 3 years ago inestate, our flat in mumbai was then transferred through society process to 3 of us- mom, myslef (brother) & sister. Currently our share certificate has all 3 of our names.
i wish to know if release deed can be executed by sister to transfer her share to me?
What are the charges & fees for the same?
or can both mother & sister do a single release deed to brother?
Asked in Property Law from Mumbai, Maharashtra
Yes she can do this. Get a release deed drafted by a lawyer which would then have to be registered. Stamp duty on transfers of property between blood relatives is not applicable in Maharashtra. A local lawyer would be able to throw more light on this though. Mother and sister should execute separate release deeds.
Yes, your sister can execute release or gift deed to transfer her share in your name.
The registration fees, stamp duty is not same in all over India and hence you better take information on this from Registration office itself.
Both of them should make separate deeds and not the single deed.
1. Separate Release Deeds by your mother and sister in your favour in respect of the property will enable you to become the Absolute Owner of the property in question.
2. Stamp Duty for the execution of Release Deed amongst blood relatives would be minimal and varies from State to State.
1) mother can execute gift or release deed for her one third share in the flat
2) it would attract nominal stamp duty of Rs 200 plus registration charges
3) sister can execute release or gift deed in your favour for her one third share . It would attract 2 per cent stamp duty as per ready reckoner rates for her share in the flat
Hi, your mother and sister can execute release deed in favour of you to release their right with respect to their share in the apartment.
2. Singly release deed is sufficient and there is no need to register separate release deed.
3. Expenses of the release deed in very minimum.
A Registered release deed by both i.e., your mother and sister in your favor relinquishing their rights in the property shall make you an absolute owner of the property.
There is no stamp duty payable for transfers within blood relation in Maharashtra. Only registration charge as applicable is to be paid.