Drop a name in Registry from Possession Documents
24-Mar-2023 (In Property Law)
Hi All
I had purchased a property in the name of my Father and Mother i.e. the possession letter and other builder documents is in both their names.
Now since my father had in his name some capital gain from LTCG, my CA suggested him to get registry done in his name if he wants to take the tax benefit of Section 54 for full amount, else if the property is registered in both the names, then the benefit he can get is only 50% and the other 50% will go to my mother's name and will be wasted.
To do this, we asked our builder to do so, for which he is asking handsome amount to change all his documents. Someone in my known told me since 1 name has to be dropped, it can be done using NOC / Affidavit from my mother.
Please advise what is the legal way of doing this. New Property is located in Haryana. Old Property was sold in UP.
Regards
Harshit
Hello Harshit you can give and application from your mother to builder that she want to transfer her share in the name of her husband and she can give affidavit as well reliquinshing her share in favour of her husband, if still builder do not change the records you can send a legal notice to builder through lawyer. Legally you can file suit for declaration and injunction against builder.
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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