1. Best option is to go for either Relinquishment or Gift Deed.
2. The reason for the best option is, the change of ownership, takes place immediately when once the deed is executed in your favour, during the lifetime of your mother itself.
Gift Deed/ Partition Deed/Relinquishment Deed/Other Options
About a year ago I purchased agricultural land in Karnataka and registered jointly in my mother's name & my name. I have made all payments towards the same & it is reflected in the sale deed also. Now, my mother wants the land to be in my name only(individual ownership). Question: To change ownership from Joint Ownership to single owner what is the best option? Relinquishment Deed/Gift Deed/Partition Deed/ Any other? and Why it is the best option?
Asked 6 years ago in Property Law
Religion: Hindu
15 Answers
1) your mother can execute gift deed or relinquishment deed for her share in property
- Relinquishment Deed is a suitable option .
- As, Relinquishment deed is a legal document, where a person legally gives up or releases his legal rights of the the property being relinquished in the name of some other person. This is one of the modes of transferring rights of an immovable property.
- It is irrevocable even when the one who is relinquishing without being compensated as well.
- it needs to be signed by both parties, stamped and registered.
- As per The Registration Act, relinquishment comes under Section 17 which means it has to be compulsorily registered at a sub-registrar's office.
- Stamp duty will be applicable only on the portion of the property that is relinquished.
Good luck and dont forget to rating Positively.
You can make quit claim and transfer her title rights on your name, plus you don't have to again registration and stamp duty charges like gift deed.
Here relinquish deed won't be applicable because it's jointly selfowned property and not inherited.
Your mother can transfer her share through gift deed to you.
2. You can register a gift deed before sub registrar office.
Gift best option as no consideration is involved and value for stamp duty is taken on least government circle rates.
Registered Relinquishment deed or gift deed can be executed for the same
Your mother should make a relinquishment deed in your favour.
The deed should be duly stamped and registered.
you have to relinquish the title in your favour and stamp duty would be applicable.
1. Your mother has to execute gift deed in respect of her share in your favour.
2. A local lawyer should be able to tell you what is the stamp duty and registration charges.
Hello,
Take NOC from your mother and then enter into a relinquishment deed by means of which the mother will relinquish her share in your favor.
Regards
Relinquishment Deed will be the best option.
Your mother will relinquish her rights in the property and the same has to be stamped and registered.
The issue will be settled once for all.
Relinquishment deed.
Either Gift Deed or Relinquishment deed can be executed by your mother.
Release Deed may be executed between your mother and you as you both are joint owners of the property. This is the best option because, in the sale deed that was executed between you and your mother at the time of purchase, definitive shares 50% each has not been demarcated, hence any other conveyance deed is ruled out and not possible.
Release deed between family members a fixed stamp duty has to be paid during the time of registration, which is cheaper than Gift Deed, relinquishment or partition deed.
Your mother can transfer her share in the property to your name either by a registered settlement deed or by a registered gift deed.
Relinquishment deed or partition deed will not be applicable to this situation.
