my father owns a residential house and wants to give the house to his two sons in equal ratio. the family consists of my father, mother, myself, and two younger brothers. my father wants to give the house to me and my younger brother. the youngest brother has no problem to this arrangement.
question - we have done a relinquishment deed where in my father says he is giving the house to me and my younger brother jointly and youngest brother agrees for the same as per the agreement. this agreement is done on Rs. 100 stamp paper.
1. Can we register this agreement in court. If so how to do the same so it carries more weight in eyes of law.
2. On a future date if me and my younger brother wants to sell house to a third party do we need to go to youngest brother for any signature. we want to avoid that.
3. Do we need to pay any stamp duty for this transaction. There is no consideration mentioned in the relinquishment agreement.
1 Answer from Attorneys
Dear Sir / Madam,
In the absence of specific detail, I presume all you three brothers are adults above 18 years of age.
1. There is no need to register the Relinquishment deed or rightly called Gift Deed in the Court. To be legally valid in the eyes of law, the Gift Deed is to be registered as per the provisions of The Indian Stamp Act, 1908 by payment of the prevailing Stamp Duty thereon.Take a letter from your youngest brother in writing that he has no objection to the Gift Deed by your father for the residential house being made in the name of yourself and your younger brother.
2. Since you would have already obtained the signature of your youngest brother at the time of making the Gift Deed itself, there will not be any need to obtain his signature again at a future date.
3. Yes, the provisions of the Indian Stamp Act, 1908 will apply.
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