Legal Question in Real Estate Law in India

Buying the propery from brother

Residential propery where we are staying is located in Mumbai. Propery belongs to myself and my

brother after our parents passed away. Now my brother wants to sell this property and hence I have

decided to buy it by paying him 50% of the amount of the current property rate. I will be pay him the

amount in two installments.

Now my questions are

what are the legal formalities I have to take care?

How much amount shall I mention in agreement since I am only paying 50% of the current value?

Thank you in advance.


Asked on 5/15/08, 3:35 am

3 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: Buying the propery from brother

You can do an agreement to sell first and on full payment sale deed. Both documents should be registered.

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Answered on 5/15/08, 4:38 am
Sachin Sangare Private Practise

Re: Buying the propery from brother

You will have to execute a "Release Deed" in which your brother relinquishes his right, title & interest in the said property by accepting 50% money of market value from you as consideration for the same. You must register the agreement by paying approprate stamp duty. As Release Deed is a better option compared to Gift Deed as a Gift Deed is without consideration and in your case you are paying 50% of market value. Share Transfer forms and other formalities should also be completed along with the execution of the deed.

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Answered on 5/15/08, 5:16 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Buying the propery from brother

I would advise you to enter into an agreement of sale first and when the full payment is made you should register both of the documents.

In case of need please contact personally alongwith the details.

Professional charges are applicable.

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Answered on 6/08/08, 1:40 pm


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