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How to remove mother in law's name from co-ownership of flat
07-Jan-2023 (In Property Law)
Hi My Husband owns a joined flat with my mother in law. The loan has been paid off completely by my Husband and we have received the documents from the bank. Pls advise the process required to delete my Mother in law’s name as the co-owner from the agreement. What would be the approx charges required? Also at the same time, can my name be added simultaneously while deleting hers. She is willing to sign the no objection documents. Pls advise.
your mother-in-law needs to make a gift deed gifting her share in the flat to you. Gift deed needs to be registered an stamp duty paid on it Thereafter you and husband become joint / co-owner of the flat . No further documents are required from your mother in law
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How do I transfer a joint property to a single name after death?
How can I transfer joint property into a single-named account after my death?
Can mutation be done after death?
A copy of a Will must be attached to the application in order for the Mutation to be done.
What happens when one owner of a joint property dies?
If one owner dies in a joint-ownership arrangement, the share of that deceased owner automatically passes to the other co-owners. In the tenants-in-common mode, however, the shares are passed on to the legal inheritors. 14-Sept-2022
How do I remove a co applicant name from my property?
If you want to remove her as a co-owner, you must file a declaration with the civil court. You will have to provide evidence to prove that you made all the payments and therefore her name should be removed from the deed.
Dear All,
The best way to remove the with very less stamp duty to pay is Gift Deed.
That the Donor now has in himself, absolute right, full power, and absolute
authority to grant the said scheduled property hereby granted as gift in the
manner aforesaid.The Donee may at all times herein after peacefully and quietly enter upon, take
possession of the scheduled property and enjoy the said scheduled property as
he deems fit without any interruption, claim or demand whatsoever from or by
the Donor or his heirs, executors, administrators and assigns or any person or
persons lawfully claiming or to claim by from under or in trust
Time Required is 7 Days
The best way to remove the with very less stamp duty to pay is Gift Deed.
That the Donor now has in himself, absolute right, full power, and absolute
authority to grant the said scheduled property hereby granted as gift in the
manner aforesaid.The Donee may at all times herein after peacefully and quietly enter upon, take
possession of the scheduled property and enjoy the said scheduled property as
he deems fit without any interruption, claim or demand whatsoever from or by
the Donor or his heirs, executors, administrators and assigns or any person or
persons lawfully claiming or to claim by from under or in trust
Time Required is 7 Days
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Adv. Shashank Choudhary
Navi Mumbai | 25+ Answers
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Hi,
There are a number of ways in which your aim could be achieve. First option, you get an NOC from the society afterthat you can do the easiest way to remove your Mother in law’s name from the joint names as the co-owner from the agreement. if you do execute a release deed or relinquishment deed in favour of your name. Your Mother in law’s name as the first party execute the release or relinquishment deed in favour of you the second party and the document should be properly stamped and registered in jurisdictional sub-registrar office .
In the alternative option your Mother in law’s can execute gift deed in your favour. it would attract 2% stamp duty on market value of property as per Ready Reckoner rates. The process, amount of stamp duty or taxes will depend upon the State where the property is situated. You will not have to worry as the gift deed is the safe and less expensive in terms of stamp duty.
Thus from a stamp duty perspective, it is advisable to execute a gift deed rather than a release deed or relinquishment deed and the option you choose out of the two given here. You can consult a property lawyer on your states or contact us for further process...
Thnaks & Regards,
Vivek srivastava
There are a number of ways in which your aim could be achieve. First option, you get an NOC from the society afterthat you can do the easiest way to remove your Mother in law’s name from the joint names as the co-owner from the agreement. if you do execute a release deed or relinquishment deed in favour of your name. Your Mother in law’s name as the first party execute the release or relinquishment deed in favour of you the second party and the document should be properly stamped and registered in jurisdictional sub-registrar office .
In the alternative option your Mother in law’s can execute gift deed in your favour. it would attract 2% stamp duty on market value of property as per Ready Reckoner rates. The process, amount of stamp duty or taxes will depend upon the State where the property is situated. You will not have to worry as the gift deed is the safe and less expensive in terms of stamp duty.
Thus from a stamp duty perspective, it is advisable to execute a gift deed rather than a release deed or relinquishment deed and the option you choose out of the two given here. You can consult a property lawyer on your states or contact us for further process...
Thnaks & Regards,
Vivek srivastava
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Adv. V.K Srivastava
VasaiVirar | 25+ Answers
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Dear Ma'm,
A gift deed will have to be executed between your mother in law and you wherein she will be gifting her share in the property to you. So that her ownership will be lawfully bequeathed on your name.
The stamp duty at the rate of 1% will have to be paid on the 50% amount of the property value as per current reckoner rate.
A gift deed will have to be executed between your mother in law and you wherein she will be gifting her share in the property to you. So that her ownership will be lawfully bequeathed on your name.
The stamp duty at the rate of 1% will have to be paid on the 50% amount of the property value as per current reckoner rate.
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Adv. Ruhi Ahire Shukla
Pune | 25+ Answers
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