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CONVERTING THE OWNERSHIP OF PROPERTY IN JOINT NAME
11-Jan-2025 (In Property Law)
1. I purchased property in Navi Mumbai in 2012. That time I had registered property in my name only as my wife was unable to travel.
2. I now want to make my wife Co-owner of the said property. How can I do so. Will it entail re-registration of property including payment of fresh stamp duty and registration charges?
3. Any other options like gift deed or making a will etc. so that my wife does not face any problem in inheritance and transfer of legal rights in case of my demise.
You can opt for a gift deed, but you will have to pay minimum stamp duty on the same. However, if you opt for a Will, you will be required to pay only registration charges, if at all you intend to get it registered. Feel free to contact me for seeking any legal advice/assistance as regards the same.
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Adv. Prerna Shukla
Mumbai | 200+ Answers
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To establish an equal division of the property, it is advisable to employ either a gift deed or a release deed. This approach will ensure that your wife receives half of the property and is recognized as a co-owner.
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Adv. Abhinav A. Bhatkar
Mumbai | 100+ Answers
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You can transfer 50% share by gift deed however and for the rest 50% you can make a will by that you can also add her name in the share certificate of the society
For further query kindly call us for a discussion
For further query kindly call us for a discussion
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Adv. Ansul Bhuta
Mumbai | 5+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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