My father in law bought properties (adjacent to each other) in the name of my wife, my brother in law and my mother in law. My Brother in law and mother in law want o sell their share and we (my wife and me) intend to purchase it.

My brother in law suggested that it can be done through a release deed (because he said that we need to pay 8% of the guideline value as stamp duty by sale deed and if done as release deed may be only 1% stamp duty will be applicable.)

Is it a valid deed? Will my wife have full rights on the property after purchasing it? Please clarify. We need to be sure that there will not be any disputes in future and that’s why we need clarification

Thanks

my e mail: (pshlab[at-the-rate-of]hotmail[dot]com)