• Release of property by sister in favour of brother

My mother and married sister desires to release their right in residential property purchased by deceased father in my favour. Kindly guide that whether my sister can do so by paying stamp duty of Rs. 500/-. I understand that release within family can be done with duty of Rs. 500/- but are brother and sister covered in that proviso.
Asked 12 months ago in Property Law from Greater Mumbai, Maharashtra
Religion: Hindu
1)sister will have to pay stamp duty at 2%of market value of her share in property for execution of gift deed or relinquishment deed


2) brother and sister are not covered within concessional rate of duty at Rs 500
Ajay Sethi
Advocate, Mumbai
31037 Answers
1698 Consultations

5.0 on 5.0

Since this pertains to the stamp duty it can be answered by only a local lawyer as stamp duty is not uniform throughout India. 
Ashish Davessar
Advocate, Jaipur
20371 Answers
537 Consultations

5.0 on 5.0

1. Get one release/settlement deed executed and registered by your mother and sister in your faour,

2. Registration fees are levied by state govt. which varies from state to state,

3. Get it checked from your local registration office.
Krishna Kishore Ganguly
Advocate, Kolkata
14439 Answers
325 Consultations

5.0 on 5.0

registration charges for gift deed would be maximum Rs 30,000 
Ajay Sethi
Advocate, Mumbai
31037 Answers
1698 Consultations

5.0 on 5.0

As suggested above the registration fees varies from state to state which you shall have to ascertain from your local registration office.
Krishna Kishore Ganguly
Advocate, Kolkata
14439 Answers
325 Consultations

5.0 on 5.0

Registration fees are not charged at fixed amount but as a percentage of the value of te property which is going to be registered.
Krishna Kishore Ganguly
Advocate, Kolkata
14439 Answers
325 Consultations

5.0 on 5.0

1. Share in immovable proeprty does not pass by mere agreement.
2. They will have to execute and register a deed of gift on payment of requisite court fees.
3. Registration fees and stamp duty differs from state to state. So check from local office.
Devajyoti Barman
Advocate, Kolkata
8136 Answers
97 Consultations

4.9 on 5.0

My mother and married sister desires to release their right in residential property purchased by deceased father in my favour. Kindly guide that whether my sister can do so by paying stamp duty of Rs. 500/-. I understand that release within family can be done with duty of Rs. 500/- but are brother and sister covered in that proviso.

This is a transfer of property within the family or blood relations.
Government of Maharashtra has exempted the transfers within the blood relations/family members from paying the stamp duty. However, the registration should e done on Rs. 500/- Non-judicial stamp paper. The relations mentioned in your query come under exemption category.
T Kalaiselvan
Advocate, Vellore
21181 Answers
208 Consultations

5.0 on 5.0

What shall be registration charges for such release deed within family

Rs. 200/- shall be the registration charges.
T Kalaiselvan
Advocate, Vellore
21181 Answers
208 Consultations

5.0 on 5.0

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