Transfer of 50% property share from husband to wife
Priya Suri
(Querist) 20 February 2011
This query is : Resolved
Dear Sir/Madam,
I have 50% share in the 2BHK property in Thakur Village, Kandivali (E) where I reside with my husband from past 6 yrs. The first name in the property is my husband's name.
Our relation is heading for a divorce. By mutual consent my husband is ready to transfer the flat completely in my name.
My query is what would be the expense to transfer the 50% share of my husband to my name. Will the process involve paying the stamp duty and/or the registration? Will the duty be on only the 50% that is to be transferred or on the complete current value of the property? Who will have to bear the costs: me or my husband? How can I know the exact amount required for the process to be completed; viz the cost of the flat from some reckoner? And finally the steps/process, incase I am missing out on something crucial.
Please excuse for too many questions. Please help and thank you for the guidance in advance.
adv. rajeev ( rajoo )
(Expert) 20 February 2011
Let him execute the rights relinquish deed which is megre or as per the compromise petition you can get enter your name to the 50% of the property.
Devajyoti Barman
(Expert) 20 February 2011
Yes that can be done. But it would be better if you ask for gift of his 50% share in the flat. The stamp duty for transfer between husband and wife is very nominal.
R.venkatesh Naidu
(Expert) 21 February 2011
yes. The Relinquishment deed is good option. Otherwise Settlement deed, but it is simply cost
