Query against property

Querist : Anonymous (Querist) 20 December 2011 This query is : Resolved
Hi,

I have a property taken in Kharaghar , Navi Mumbai . Agreement for sale has my name and my husbands name (in the format , Myname , Husbands name ). I have shown agreement copy to couple of advocates and they told me that he is 50% owner of the flat

I am paying all the installments for this flat and it is still under loan.

At the moment marriage is on the verge of a divorce and would like to make sure that I am the complete owner of the flat. What will I need to make sure in order to get this done.

I have got 2 advises from the advocate and both are contradictory

1. Make one release deed and my husband and I will have to sign it. This needs to get registered by registrar. No need to pay stamp duty
2. Make release deed and get it signed by my husband and also pay 2% of stamp duty on the 50% evaluation of the flat

In case of option 1 I do not have to pay stamp duty. Will this give me complete ownership of the flat and he will not be able to claim it in future ?
What is the benefit of going by option 2.

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Devajyoti Barman (Expert) 20 December 2011
No, transfer of immoveable is not complete without registration on payment of stamp duty as assessed on the property.
So either execute release deed or gift deed in your favour and get it registered by paying requisite stamp duty.

ajay sethi (Expert) 20 December 2011
advisable to go by option 2 . ask your husband to execute gift deed or deed of release pay stamp duty and get document registered . unless document is properly stamped and regsitered no title to property will pass on to you .

you have another problem . both of you must have made application for loan . the amount of loan sanctioned must have been sanctioned after taking into account your combined incomes. take bank into confidence before taking any step

R.Ranganathan (Expert) 21 December 2011
It is in your interest to go in for the second option only. Otherwise in future it will create problems for you about the title. Better pay stamp duty and get things done as per law.

prabhakar singh (Expert) 21 December 2011
Yes go for option 2 to gather with registration.When you are paying EMI there is no problem from bank otherwise also any one taking a loaned property shall take over loan burden also.

Querist : Anonymous (Querist) 21 December 2011
Hi,

My Advocate is still insisting me to go by option 1.
Ofcourse I do not understand law much and it will great if someone of you can explain me what are the disadvatages of option 1.

Also is there anyone who can help me to get this done

ajay sethi (Expert) 21 December 2011
have already explained to you . if document is not stamped and regsitered in admissible in evidence .

you have to take final call

Raj Kumar Makkad (Expert) 21 December 2011
You have neither disclosed in your entire query and subsequent questions nor any expert deem it fit to ask from you whether your husband is agree or not.

it is the desire of your husband to transfer his share in favour or not. You should first seek his consent and only then opt for way to do so.

it is also necessary to seek written permission of your banker to do so because without its permission, you can't do so.

Fist ensure consent of both in writing and only then move ahead.

The opinion of your lawyer is baseless. You can personally without the knowledge of your lawyer go to the office of local registrar and ask the procedure of release deed and he shall confirm who is right to advise you in the present matter.

Querist : Anonymous (Querist) 22 December 2011
Thanks . Yes my husband is ready to release it as of now .
I will take help from some other advocate since my advocate is still insisting for option 1 . Is anyone of u aware who can do this me . Or if u have any contacts in navi mumbai .

How much should advocate be charging me for this whole process? And how mays it shud take ?

Querist : Anonymous (Querist) 09 January 2012
Thanks everyone for your valuable inputs. We have made Gift deed and I have paid stamp duty resiteration charges on the same.

Query against property

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