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procedure and cost for Release ownership from co-owners in Flat
04-Jun-2023 (In Property Law)
My self Yogesh from Hindu Family, Me and My brother brought 1Bhk flat in Nov 2015, because of loan eligibility I have added my older brother as Co-owner in flat and co applicant in loan, Now I wanted to release his ownership from flat and He is ok with It without any compensation as he has already brought 1 bhk flat in Aug 2012, Can you please tell me procedure and approx. cost involve in this.
Hello,
To legally transfer the property under your name there are 2 ways you can do either go for a gift which shall be a bit expensive or else opt for thr Release deed where your brother can transfer his 50% share to you and you can become a 100% owner.
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Adv. Chinnmay S. Shah
Mumbai | 100+ Answers
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Dear Querist,
You can execute deed of release or gift deed. Which document is appropriate for you can be advised only after perusing your agreements for sale. Cost will depend on which document will be executed.
Regards,
Rakesh V. Misar.
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Adv. Rakesh Misar
Mumbai | 200+ Answers
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