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Gift deed or release for property transfer in Bangalore
30-Jan-2023 (In Property Law)
Our father owned a site in Bangalore. He died in 2015 without a will. As per local municipality office, they said that Khata will be transferred only to our mother. I have a brother and sister. My mother wants to transfer the property to me and my brother and sister are happy to relinquish and let me have 100% of the property. One of them says Gift deed should be done and another one said release deed should be done!!
What is the correct process for the same? Should we do gift deed, release deed or any other deed (relinquishment deed)?
What will be the stamp duty and registration charges applicable based on the appropriate deed?
hi, release deed will be appropriate document as all family members have equal share in the property, hence by executing the release deed they will release their share and rights over the property and you will become the absolute owner.
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Adv. Rekha C. V.
Bangalore | 100+ Answers
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