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Change in ownership of a Residential Flat
09-Feb-2024 (In Property Law)
At present our Flat in a residential building is jointly owned by Myself and My Wife. My Wife wants to change, when she is alive, her ownership in the Flat to Our Son so that the Flat is jointly owned by Myself and Our Son. Can this be done and if yes how?
Since the Flat is jointly owned by you and your wife , naturally both of you have equal share of 50% in it unless otherwise specified in the agreement. Your wife can transfer her undivided share in the said flat to your son by registered gift deed. For registration of gift deed, stamp duty and registration charges are required to be paid as per government rule of the state and city in which your flat is located.
Helpful?
Adv. Mukesh Vasant Shinde
Thane | 400+ Answers
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Dear Sir,
We have perused your query and have to answer as follows:
Your wife can execute a Gift Deed and transfer her share to her son. You will have to execute a Gift dee, register the same and produce it before the society for changing their records.
We have perused your query and have to answer as follows:
Your wife can execute a Gift Deed and transfer her share to her son. You will have to execute a Gift dee, register the same and produce it before the society for changing their records.
Helpful?
Adv. Garima Anil Mehrotra
Mumbai | 500+ Answers
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