medappa (legal) 29 November 2010

Transfer of property

I would like to transfer my appartment, which is in my name, to my wife. How should I go about doing this? Can I transfer the appartment through a transfer deed or can the transfer be made through gift only?

Awaiting your reply,

Medappa

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5 Replies

Darshan Panchal (Advocate) 29 November 2010

u can have her name added as nominee in share certificate to have her as a co-owner. However, if u want to absolutely transfer the property to her then one way is the sale deed and the other is gift. In both the cases it will attract stamp at 4.5% and registration at 1% of the consideration. However the said rates be verified if you are not in gujarat. Based on the either document, name of ur wife will be entered in revenue and ucipal records as owner thereof.

suresh (Advocate) 29 November 2010

Dear Medappa,

you can transfer your apartment to you wife, the stamp duty is variable state by state, you need to specify where is property is located, upon which I can suggest you to the better way to transfer.