Regd property

SeekLegalHelp (Querist) 09 April 2014 This query is : Resolved
Property(Land) is in the name of husband + wife together. Husband would like to transfer his share into wife's name, so that wife will be sole owner of property. Please suggest the process for giving up his rights/transferring his share into her name.

Follow Query

Report Abuse

Devajyoti Barman (Expert) 09 April 2014
Husband can execute and register a deed of gift or deed of release in his wife's favour.

R.V.RAO (Expert) 09 April 2014
although other alternatives are available, transfer by gift deed to wife is better as it does not attract gift tax and only regn. charges and stamp duty are payable (stamp duty and regn. charges vary from state to state).gift deed marks irrevocable transfer.

Guest (Expert) 09 April 2014
Cost wise the Settlement Deed Would be advisable.The total cost would be much lesser than Rs.30000/- irrespective of property value for Registrations,Consult A senior document writer at Registrar Office or an advocate for drafting.In Gift Deed it would be 5 to 6 Percent of property Value which could be avoided while Executing Settlement Deed

Devajyoti Barman (Expert) 09 April 2014
In WB stamp duty is far less than settlement deed.It is 0.5% only.

Rajendra K Goyal (Expert) 10 April 2014
You may consult a local lawyer to find out which avenue would be better and cost effective in reference to stamp act of your state.

T. Kalaiselvan, Advocate (Expert) 10 April 2014
What is he going to do after transferring the entire property on his wife's name?, The procedure for transfer is by executing a release/gift/settlement deed.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries