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Joint owership to single ownership
09-Aug-2023 (In Property Law)
We hold 2 properties in Mumbai jointly owned by me and my husband and I am the first owner. I want to transfer the property in my husbands name. How can I do that and do I need to pay any tax or any kind of tax. If yes what will be the cost
For transferring joint ownership property in the single name of your husband, you have to gift your 50%undivided share in the said flat to him by way of registration of Gifr deed and it will attract nominal stamp duty and registration charges but 1% metro surcharge has to paid on the said 50% government value of property.
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Adv. Mukesh Vasant Shinde
Thane | 400+ Answers
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