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Author Topic: Transfer of co-owner share to other co-owners  (Read 385 times)

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Offline anshu66

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Transfer of co-owner share to other co-owners
« on: February 16, 2016, 11:54:05 AM »
My mother, sister and me are co-owners of a flat purchased in Mumbai and registered in April, 2015.
My mother would like to transfer her share in my sister's and my name.
1. Should she do this through relinquishment deed or gift deed ?
2. Will we still have to pay registration charges if we do a relinquishment deed?
3. What documents are to be attached with the deed ?
Thanks in advance

Offline advbose

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Re: Transfer of co-owner share to other co-owners
« Reply #1 on: February 17, 2016, 04:19:41 AM »
the best cost free option would be if she will her portion in your sister's name.

else she has to do a gift deed

Offline adv.amarnath

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Re: Transfer of co-owner share to other co-owners
« Reply #2 on: February 24, 2016, 09:34:24 AM »
There is no validity of Relinquishment of share/ property rights in Indian Law. But if she wishes to transfer her share then the best option is Deed of Gift which will be in other ways just wasting of money. To be very practical, on her demise, her share will automatically devolves upon you and your sisters. Then why uncessary you will register Deed of Gift and pay stamp duty and registration fee to the Govt.!!!

For further clarification you can contact me
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Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

 

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