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I'm the wife of a recently deceased husband, and I'm looking to sell our jointly-owned home immediately, as the banks are pursuing us for outstanding payments. We have two sons, aged 21 and 13. Would a release deed suffice, or is a succession certificate necessary for the minor? We don't have the time or money to go through a lengthy court process for the latter. The chairman of our housing society is insisting on a succession certificate, but obtaining one could take at least a year. Given that the bank's EMI is too high and unsustainable for us, a release deed would be ideal since a succession certificate isn't feasible.
Mam, the only release deed is not sufficient in case of minor and Succession certificate will be necessary to transfer the property. For further legal assistance contact us on our helpline number.