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How to transfer joint property to single name ?


25-Jul-2024 (In Property Law)
Hi, I own a flat in Noida which is registered in my and my wife's name. I am the 1st applicant and my wife is the 2nd applicant. I want to transfer my share of property to my wife. how to transfer property from joint names to one name ?, Will gift deed or deed of relinquish be sufficient or any other modality. Further will it involve stamp duty fee
Answers (5)

Answer #1
420 votes

How to Transfer a Jointly Owned Property to One Person (Single Owner):

  1. Use a Release Deed / Relinquishment Deed:

    • If both parties mutually agree, one co-owner can give up their share in favor of the other.

    • Common in family property transfers.

  2. Steps Involved:

    • Draft the Release Deed through a lawyer or deed writer.

    • Pay stamp duty (varies by state and property value).

    • Register the deed at the Sub-Registrar's Office.

  3. Stamp Duty:

    • Varies by state.

    • Some states offer reduced duty for family members.


      How to Transfer Property from One Name to Joint Names:

    • Use a Sale Deed or Gift Deed:

      • Sale Deed: When there's a payment involved.

      • Gift Deed: When it's transferred without money, usually between family members.

    • Documents Required:

      • Original property documents

      • Identity/address proof

      • Drafted sale/gift deed

      • Stamp paper

      • PAN card for TDS (if applicable)

    • Registration:

      • Go to the Sub-Registrar's Office

      • Pay applicable stamp duty and registration charges

      • Get the deed registered officially

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Advocate Chikirsha Mohanty

Adv. Chikirsha Mohanty

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Answer #2
992 votes
The property can be transferred in the name of your wife by Gift deed. This need be compulsorily registered and attracts same stamp duty as in the case of sale deed. Another way is that you may execute a will in favour of your wife, but will takes effect only after the death of testator and during his lifetime he can change it too. Will should also be registered for safety.
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Answer #3
666 votes
Please tell where is the property located. Is there any loan against the property, if yes then you have to seek permission of the bank also. As it being flat, you have to refer to flat buyer agreement in that there will be a transfer clause stating that administrative charges for transfer (which may range from 20-25 %). To save that amount it is better you make a will. However, you can a share the ownership by gifting it. But in this case, you will need to get a gift deed executed on a stamp paper and register it at the registrar's office. A gift to a relative is not taxable. However, if you gift the property to a non-relative, the value of the house is treated as income and taxed according to the income tax rules for the relevant year. The stamp duty is generally 2% of the value of the property, along with 1% registration charge.
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Advocate Pragya Wazir

Adv. Pragya Wazir

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Answer #4
971 votes
I understand that the property is in joint ownership and you have a registry in favor of your wife and yourself. Then in my opinion, you have to relinquish the title in favour of your wife and stamp duty would be applicable.
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Advocate Suchiti Chandra

Adv. Suchiti Chandra

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Answer #5
607 votes
Hi there. the commercial property is registered on joint name then your husband has to execute deed of reliqueshment that means giving up his share to you. the same can be registered with the Sub registrar office. then based on such deed the name can be delete from the share certificate in case is Co-operative Society.
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Advocate Utsav Sheth

Adv. Utsav Sheth

LawRatoAhmedabad | 25+ Answers
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