Hi Sreekanth,
My wife and her uncle (not blood relative) are co-owners on sale deed for a plot in Hyderabad purchased 5 years back. Now her uncle wants to release his ownership in my wife's favor for no consideration. My wife is currently in USA but her uncle is in Hyderabad, can he execute the release deed in my wife's favor without her physically presence in Hyderabad and what documents would be needed in her absence like Form 32A?
Thanks,
K P Reddy
1 Answers
Hi,
The Relinquishment deed has to be registered and applicable stamp duty & Registration fee have to be paid. The stamp duty has to be paid only on the portion of the property that is being relinquished and not on the total value of the property.
In this case, though no consideration is involved, the stamp duty is still applicable as per the Guidance value (govt value) for the relinquished share.
Your wife may have to give Power of Attorney, Form 22 A (finger prints scanning), Copies of ID proof..
PoA documents has to be sent to the USA, should get it notarized by local (USA) authority.
Suggest you to kindly take help of a CA/lawyer who provide NRI services (taxation/realty matters).
Related articles :
https://www.relakhs.com/real-estate-property-transfer-deed-types/
https://www.relakhs.com/mutation-property-transfer-title-records/
https://www.relakhs.com/encumbrance-certificate-property-ec/
Please login or Register to submit your answer