Property Deed Transfer In Mumbai
The process of title transfer of a property refers to change of ownership registration of a property to your name that you have inherited from your guardians or relatives. The whole property could be a matter of dispute, if there is no registered will for the proper allotment of property. If you have made a will provision to secure your property still there are lots of legal and documental formalities for the successful ownership transfer of the property. The process of registering a relinquishment deed could be time taking and puzzling. So you must be aware about the certain terms and proper procedure to follow for a successful ownership transfer of property with the help of a relevant real estate deed.
Registering a relinquishment deed is another way for property deed transfer in Mumbai especially for inherited properties. A Relinquishment Deed in Mumbai itself is a tool used to release the ownership rights of your property in the favor of another person. A Relinquishment Deed can only be signed among family members and can’t be executed in the favor of another person doesn’t belong to that family or not a legal heir as it could be without consideration or with consideration only for monetary consideration.
Sales Deed is the most popular mode of selling property or transferring property deed to another name appropriately. Sale deed is the best tool available in Indian revenue system for getting maximum monetary benefits from your property in short terms by registering the property in municipal records. Once the property is registered then it is easier to transfer the property ownership to another person after paying general stamp duty and other taxes as per the state laws.
Registering a gift deed is another important term in property ownership transfer when you are willing to transfer your property either to your blood relatives or your loved ones in India. Stamp duty may be different in every state for gift deed but it is mandatory for successful transfer of property deed.