Hello,you can get a gift deed done from your brothers .. It do not include Stampduty and is more fast and convinient
Relinquishment deed
Dear Team We are 4 legal heirs of the ancestral property which we got from our parents after their death This property is got muted in our 4 brothers name in 2003 As parents did not made any will so we have equal ( 1/4 part) share each one of my brother taken a part on the road side 1/4th of the total property and living separatly Now i am living in the balance my 1/4th part and 1/4+1/4 of my 2 older brother they have taken their part of property some other which was already in their name and they both of 2 want to leave their rights in my favor We want to make a deed which is not so much costlier and the rights get transfer to me I searched about relinquishment Deed so my 2 of brother want to give me that deed in my favor 1 I want to know about Relinquishment deed 2 what are the rules for getting this deed from my 2 older brothers 3 this property is in H zone and the circle rate is about 30,000 per sq mt 4 area is about 200 sq mt which has to relinquish in my favor 5 is stamp duty has to be paid on the over all value of (200 sq mt ) property on the basis of circle rate 6 we are real brothers and this property we got from parents so how i can cut down the cost of stamp duty on value of property as there is no consideration of amount and we are doing amicably. 7 registration fee is 1000 rupee and stamp fee is 100 rupee if there is no consideration in case of relinquishment deed Is this is true as i got to know about this from e registrar website Please help me I have a paper of mutation which is into the name of all 4 brother with equal share of 25%
Asked 8 years ago in Property Law
Religion: Hindu
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11 Answers
Your brother can execute deed of relinquishment in your favour to relinquish his share in property
2) relinquishment deed should be duly stamped and registered
3) stamp duty is state subject and varies from state to state
4) contact a local lawyer
1.Since the sahre can be transferred by by way of deed of gift also it is advisable to make such deed though the effect is same like that of deed of relinquishment.
2. Meet an advocate who will draft the same and get the things done.No special Rules is there for this.
3.Stamp duty is to be paid only on the portion which is getting transferred as per its market rate.
4. The stamp duty is minimum .Since it varies with every state it is advisable you get in touch with local registration office.
Hello,
Gift deed also has the effect of relinquishment and deed and therefore it is advised that you go and ahead and get a gift deed done, a local lawyer will help you in drafting the same.
You will have to pay Stamp duty on the portion which will be transferred.
Only a local lawyer can tell you the same as it varies from circle to circle.
Regarda
1. Your brothers have to execute a relinquishment deed in your favour which has to be registered.
2. The stamp duty is payable on the value of the area as per the circle rate. It will be payable on the market value of the relinquished share. The stamp duty part of your query can be answered only by a local lawyer as stamp duty differs from one state to another.
This property is in delhi I want to know is there any way any deed or agreement or will by which the rights can be transferred without paying stamp duty on market value of relinquish area of property I am not in the condition to pay 4 lac of stamp duty
Asked 8 years ago
1.By agreement no transfer gets completed while Will takes effect after death of the maker and then it requires Probate also.
Rights and title can not be transferred without paying the stamp duty
Will takes effect only on death of testator
2) further will cam be revoked at any point of time by your brothers
3) in the alternative tour brother can execute gift deed in your favour but it would attract stamp duty and registration charges
There is no such deed. Relinquishment deed has to be executed and it has to be stamped according to state stamp duty act.
If your brothers are ready and willing to relinquish their rights in their share of properties in your favor they can execute a registered release deed.
The stamp duty and registration charges for the property to be transferred to you by your brothers can be enquired in the local sub-registrar's office since it is a local subject.
No other method of transfer shall be economic than the registered release deed.
I want to know is there any way any deed or agreement or will by which the rights can be transferred without paying stamp duty on market value of relinquish area of property
I am not in the condition to pay 4 lac of stamp duty
If you want to be a legal title i.e., marketable title to the share of property that is likely to be transferred to you, then a registered document shall be a valid mode of transfer
An unregistered deed will not confer title to the property and this may lead to a situation at a later date that you may not be able to claim the property if there arises a dispute from the heirs of your brothers.