Choose between release and gift deeds for property transfer
It is mandatory to register gift, release or transfer deeds with the sub-registrar of assurances
My mother and her sister inherited their father’s property. My mother intends to buy her sister’s rights at market value. Does she have to show this as a sale or make a release deed for consideration or show it as a gift? Eventually, my mother will give her sister the market value for her share. We were told that a release deed will not be possible, and it will have to be a sale deed. Please advice.