Legal Question in Real Estate Law in India

Hi,
Currently our flat is jointly owned by me and my mother.
I am moving out to another flat and hence want to transfer all the rights of the existing one entirely in
my mothers name.
What is the best, easiest and economical way to do this?
a. Should I just resign from membership of the society and give a no-objection letter to the society to
transfer all the society shares in my mothers name?
b. Should I make a release deed in favor of my mother? I understand that stamp duty has to be paid on it?
Will it be lesser than stamp duty paid on a gift deed or a sale deed? Is it necessary to register a
release deed?
c. Should I make a gift deed in favor of my mother or in favor of my mother and father?
Thanks.

Asked on 10/23/10, 12:55 am

Rashmi Bhatia Sangare Private Practise

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0 attorneys agreed

Best option is registered Release deed in favour of your mother and father.

Answered on 10/24/10, 10:17 pm

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