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As i have registered release deed from my mother's legal hiers.
28-Sep-2024 (In Property Law)
Scoiety has transferred the flat in nomination name and asked me to get release deed or gift deed from the new owner (nominee of my mother)
Nomination does not culminate into ownership. Society cannot single handedly transfer the flat in the name of the nominee if there are legal heirs of the deceased. Also, to get the name transferred you can enter into a release deed or a gift deed. Feel free to contact me for seeking any legal assistance as regards the same.
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Adv. Prerna Shukla
Mumbai | 700+ Answers
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If the society has transferred the flat to the nominee of your mother, they are now requesting a release deed or gift deed from the nominee to formalize the transfer of ownership in legal records.
A release deed is generally used when the nominee (new owner) wishes to release their share in favor of another legal heir or designated person without any monetary exchange. This option is cost-effective, as it usually involves lower stamp duty, particularly when done between family members.
A gift deed, on the other hand, is a legal document where the nominee formally transfers the property as a gift to you or another party. While it also involves stamp duty, it may be higher than a release deed, depending on your state laws.
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Adv. Rohan Venkatesh Yemul
Mumbai | 100+ Answers
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