LAW BOOK

HT Estates - - HTESTATES - Su­nil Tyagi

My fa­ther wants to ex­e­cute a relin­quish­ment deed of his prop­erty in my favour. Is it nec­es­sary for us to get this doc­u­ment reg­is­tered?

— Sachin Dwivedi Un­der the Reg­is­tra­tion Act, 1908, a relin­quish­ment deed for an im­mov­able prop­erty re­quires to be com­pul­so­rily reg­is­tered. In case the relin­quish­ment deed is not duly reg­is­tered, no rights, ti­tle or in­ter­est in the prop­erty would pass in favour of the trans­feree (ie, you).

My mother is the sole owner of a flat. A few years ago, she ex­e­cuted a power of at­tor­ney in favour of my brother, au­tho­ris­ing him to ne­go­ti­ate trans­ac­tions and ex­e­cute doc­u­ments for leas­ing out the prop­erty. Re­cently, it came to our no­tice that my brother has sold the flat in favour of a third party. Can he do so?

— Nitin Me­hta From the facts pro­vided, we as­sume that the word­ing of the clauses con­tained in the power of at­tor­ney were limited in scope and em­pow­ered your brother to ex­e­cute only a lease deed/agree­ment to lease of the prop­erty by and on your mother’s be­half. In case your brother was not au­tho­rised to ex­e­cute a sale deed of the prop­erty in favour of a third party, his acts be­ing be­yond the limited scope of his pow­ers and re­spon­si­bil­i­ties set out in the power of at­tor­ney, would amount to breach of trust, and hence be li­able to chal­lenge in courts of law. I am the ab­so­lute owner of a plot, but now wish to make both my wife and son equal and joint owners of this plot within my life­time. How should I pro­ceed?

— Ashish Choud­hary From the facts pro­vided, it is not clear whether or not you wish to re­main a joint owner of the plot, along with your wife and son. In case you wish to di­vest your own­er­ship in the plot in en­tirety, you may ex­e­cute a gift deed of your ti­tle and own­er­ship in the en­tire plot in favour of your wife and son.

If you wish to be an owner of an equal and joint, un­di­vided share in this plot along with your wife and son, you may ex­e­cute a gift deed equiv­a­lent to one-third joint, un­di­vided share each in favour of your wife and son.

This way, they can be­come joint owners of this prop­erty dur­ing your life­time. For the gift to take ef­fect and be legally valid, it is im­per­a­tive to make full and timely pay­ment of req­ui­site stamp duty and reg­is­tra­tion fee on a gift deed of im­mov­able prop­erty.

The au­thor is a se­nior part­ner at Zeus Law, a cor­po­rate com­mer­cial law firm. One of its ar­eas of spe­cial­i­sa­tions is real es­tate trans­ac­tional and lit­i­ga­tion work.

If you have any queries, email us at ht­es­tates@hin­dus­tan­times.com or ht@zeus.firm.in

THINKSTOCK

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.