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Jayesh   02 July 2017

Include wife as co-owner to uds and construction agreement

Hello there,

I live in Chennai - i owned a piece of land. Constructed x number of apartments, retained 2. My CA had advised me no UDS or Sale deed for the 2 owned by me as I am the land owner anyways. I did construction agreement alone for those 2 years ago.

Now my question is, I would like to include my wife to these 2 apartments. Do I have to register Sale deed now since I am including a co-owner? Or is there another way out? Additionally, how do i include her in the construction agreement as co-owner now. 

Please advise.



Learning

 4 Replies

Raveena Kataria (Advocate )     03 July 2017

In my best opinion, you can apply for a partition deed to include your wife as a co-owner. (The share of your wife need not be necessarily equal/ shares can be laid down in the deed exactly as you deem fit.) You'll have to get such deed registered at the Registrar's office of your local district (i.e. within the jurisdiction of which your plot lies.) 

You can then apply for a mutation deed. Mutation is the change of title ownership of property, generally after such property is sold or transferred. In your case, mutation can be jointly issued in you and your wife's name. Do note, it'd be prudent for you to verify this with your CA, and also get in touch with a local advocate so he/she can assist you in drawing up the proper documents for preparing the deeds without hassle. 

Ms.Usha Kapoor (CEO)     03 July 2017

In my opinion you may gift 50% of share in those two Apartments through a Registered  Gift Deed in favour of your wife and open  a Joint account in the Bank making your wife as coowner of that 50% share in the two apartments    based on the registered gift Deed in favor of your wife and thus make her as coowner of those two Apartments.

P. Venu (Advocate)     03 July 2017

A settlement deed could be executed.

Jayesh   21 November 2017

Thank you Ms Raveena Katarai, Ms. Usha Kapoor and Mr. P Venu for your valuable guidance. I registered settlement deed in my wife's name. Thanks a lot!


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