Your brother can execute relinquishment deed or gift deed for his share in property
it has to duly stamped and registered
My father had one inherited house and one he bought himself..he gave his bought house to my brother wheras this inherited house is jointly in our name..now my brother wants to quit his claim on this inherited house.. what are the possible options with least expenses..is the quit claim deed applicable in uttar pradesh, india
Your brother can execute relinquishment deed or gift deed for his share in property
it has to duly stamped and registered
1. Let your brother execute a registered Release Deed relinquishing his share in the property in your favour in the jurisdictional Sub Registrar's Office. The stamp duty for executing the Release Deed between the blood relatives will be a nominal amount.
2. Execution of Release Deed relinquishing one share in the property is applicable throughout India and U.P. is no exception.
Yes. It has to be done by a registered deed of gft or release.
In both cases it attracts stamp duty and registration fees.
How much is the stamp duty for relinquish ment deed in UP.. Of all the means to transfer the property which one requires the least stamp duty and how much
- If that house was given to your brother by way of registered gift deed , then he should execute a relinquishment deed in your favour of can also gift you legally.
- This relinquishment deed should be registered from the office of the Registrar.
- In UP , the registration fees is 1% and stamp duty 6% for men on this deed.
There is no such concept called quit claim with regard to the immovable property.
If the property is ancestral in nature and if your brother and you are having a definite share in the share of your father then he may execute a registered release deed relinquishing his rights after which your father also can transfer his share in the property either by a registered settlement deed or by executing a separate release deed relinquishing his rights in his share of property.
After that you will become an absolute owner of the entire property with clear and marketable title to it.
The stamp duty applicable for this release deed can be clarified from local registrar office because it is a state subject and differs from one state to another across the country.
Stamp duty is state subject and varies from state to state
local lawyer can guide you as to stamp duty and registration charges
A gift deed must be made by your father and other shareholders ie your brother in your favour. That gift deed must be registered. Take the possession of the property.
You have to make a gift deed which is tge least cumbersome process. It may attract around 7%of the property price.
1. In whose favour does he wish to 'quit' it?
2. There is nothing such as 'quit claim deed'. I am hearing this for the first time.
3. A local lawyer practising in UP can answer the stamp duty part of your query.
Dear Sir,
1) Your brother shall have to execute a relinquishment deed in your favor. As gift deed can only be executed on partitioner property.
2) The stamp duty rate in UP is 7 % for male.
3) The registration fee is currently 1% in UP .
Thank you
- There is no quit deed.
- Your brother can make release deed or gift deed as the fees for them is usually nominal for blood relatives.
- The Fees depends on State.