Change of Property Owner from joint to single

798 votes

The issue put forth by you is to be addressed and cleared at the first instance by your home loan lending authority,if both of you are co-borrower.Even if you get the nod from such authority, transfer of ownership of the property shall have to be dealt with duly fulfilling all concerned legal formalities as laid down in different related statutes.As Legal professional I need to peruse all the property related documents available with you before suggesting any legal course of action on your part . If you so desire, contact lawRato for instructions.

Advocate Goutam Majumder LawRato

980 votes

In my opinion you can transfer the property by way of registered gift deed but without consent of the lender bank it is not possible.
And without detail discussion and document review proper consult is not possible.

Advocate Dhrubaraj Bhowmik LawRato

592 votes

Since the property may perhaps be mortgaged and loan may be obtained by you by depositing the title deed, the flat is under hypothecation, hence under the law, the trans fer of the half share by one to another will not be permissible unless the loan is completed. After completion the transfer may be done by way of deed of gift, and in case of gift the government stamp duty (between husband and wife) is 0.5 percent of the market value and the government registration cost is 1.1 percent of the market value. All the best. Regards

Advocate Ujjal Kumar Ray LawRato