Selling joint property house to wife

VIJAYNARAYAN (Querist) 08 August 2015 This query is : Resolved
my present house is jointly owned by me and my wife. can i sell the house to my wife so that she becomes the single sole owner.

Follow Query

Report Abuse

Guest (Expert) 08 August 2015
If no money transaction is involved it is better execute a Release Deed/Settlement Deed/Or Gift Deed which ever is Less Expensive.Consult your Registrar Office Or a Senior Document Writer.

VIJAYNARAYAN (Querist) 08 August 2015
Dear Mr.NJS
thanks for the response. in my case this is will be a money transaction. that is wife wiill be buying it from me , even though she is a joint owner. This type of transaction is it legal and allowed

Guest (Expert) 08 August 2015
Then Sale Deed would be the Best.Consult Senior Document Writers at Registrar Office.In your case you would be Selling/Surrendering your Legal Rights in Joint Ownership to the Co Owner.

Kumar Doab (Expert) 08 August 2015
In India husband and wife are not treated as one person and are treated as separate entities in the eyes of law. They can enter into valid agreement and sell their property to each other.

VIJAYNARAYAN (Querist) 08 August 2015
Dear NJS & Kumar Doab
thanks a lot for response
regards

Rajendra K Goyal (Expert) 09 August 2015
You can sell / gift / relinquish / settle the property in her favor. Consult local lawyer to find out whether which would attract least stamp and registration expenses in your state.

VIJAYNARAYAN (Querist) 09 August 2015
Dear Goyal Ji
thanks for the response
regards a v nrayan

VIJAYNARAYAN (Querist) 10 August 2015
Dear ALL
a very happy day to all.
going further on this my UDS share is valued at Rs.36 Lakhs. 1. Can I sell to my wife at say 40 L or what could be the higher limit.

T. Kalaiselvan, Advocate (Expert) 17 August 2015
You can sell your property to your wife at the rate agreed between by both of you, there can be no legal suggestion to this.

VIJAYNARAYAN (Querist) 17 August 2015
Dear Mr. Kalaiselvan a very happy day to you
thanks or the response

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