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Transfer of one person rights to another person in joint property
01-Oct-2023 (In Documentation Law)
We are 4 friends registered DC converted 16 guntas land jointly in our name.
No bifurcation of boundaries were done.
Now, I have an emergency and selling my portion of 4 guntas to my friend who will take my place in this joint property, How to execute the sale deed.
Hi, you can transfer your rights for the consideration as decided either through a sale deed or release deed. The procedure would be to get the proper draft of the sale deed or release deed from an advocate and then you need to carry all the supporting documents at the sub registrar office in whose jurisdiction the property comes in for registration. A sale/release Deed of such a property would attract a stamp duty of 5% charged on the market value of each share of the property along with registration charges as applicable.
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Adv. Rajesh Kumar K
Bangalore | 400+ Answers
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