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Change in ownership name or removal of 1 of joint owner and adding new


10-Feb-2023 (In Property Law)
I have 2 flats in joint name myself and my wife, I am going to buy new flat , but for taxation purpose I wish to change my earlier 2 flat's ownership by adding my minor son/daughter's name and removing my name so new owners of old 2 flats will be my wife and my minor son/daughter Now after doing this , I can buy 3rd house in my name along with wife CAN I DO THIS AND HOW
Answers (2)

Answer #1
970 votes
For what purpose you want do it? the purpose is more important. It will be proper if you take paid consultancy to compensate the lawyer's stock-in-trade required to advise you. for more information give PM.
Answer #2
907 votes
U can gift ur share to ur children by way of Gift Deed. The stamp duty also attract less when father gifted his share to his children n also u will get exemption for tax in gift deed. In my opinion Gift Deed is good option for you

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