Gift deed or release deed?
My father expired in 2005 and all property was divided equally among my 2 sisters, mother and myself. The property that was given to my 2 sisters has been sold off by them.
My mother and I live in a flat in New Delhi which is in our joint ownership(mother and me). As per the partition of property within the family the flat is my and my mother's part of the share.
In order to ensure that there is no problem in the future, my mother wants to give me her share during her lifetime itself now.I want to do the paperwork in such a way that there is no dispute in the future. As per rules applicable in Delhi , I am aware of gift deed(which is costly) and release deed (which is less expensive). But I am not sure which is the one that is suitable in my case.
Please advise.
Asked 8 years ago in Property Law
Religion: Hindu