Release of co owner

Mani S (Querist) 29 May 2013 This query is : Resolved
For reasons of security, I had included my wife as coowner in a property that I bought at Bombay. For some reason, I now want to release her name from the ownership. How do I do it? How will the registrar treat this?

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J K Agrawal (Expert) 30 May 2013
It is conveyance.

Raj Kumar Makkad (Expert) 30 May 2013
Your wife only get gift you by way of a registered gift deed otherwise you yourself cannot do as desired.

Adv Archana Deshmukh (Expert) 30 May 2013
Your wife can execute a gift of release deed in your favor.

ajay sethi (Expert) 30 May 2013
is your wife agreeable to removal of her name as co owner . you need her consent . if she agrees then relinquishment deed or gift deed would serve the purpose

Guest (Expert) 30 May 2013
Anyone of the following options can be possible:

1) Gift deed by your wife in your name; or
2) Relinquishment deed by your wife from her co-ownership; or
3) Reconveyance by both of you in your single name.

You may opt for what is more suitable to you and economic as fas as stamp duty is concerned.

Mani S (Querist) 30 May 2013
Thanks to Advocates PS Dhingra, Ajay Sethi, Archana, Rajkumar Makkad and JK Agarwal, I have now got the clarification.

R.K Nanda (Expert) 30 May 2013
no more to add.

ajay sethi (Expert) 30 May 2013
thanks for your appreciation

Guest (Expert) 30 May 2013
You are welcome.

Raj Kumar Makkad (Expert) 30 May 2013
Most welcome from your side.

J K Agrawal (Expert) 31 May 2013
Thanks to all but i think that the question is not so simple as we are taking it.

I am in doubt that the relinquishment deed will not do.

Because the purchasers are independent having there own separate title over each half of the property. If one relinquish his share it vanish or at the best go to exchequer but will not go to a co purchaser.

Only alienation by way of sale or gift is solution.

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