Regarding ownership rights on sale of property
Lalit
(Querist) 30 November 2014
This query is : Resolved
There is a Joint Ownership Property of Husband and Wife. With mutual consent and settlement, Husband wants to revoke his ownership rights from the property. What husband needs to do, such that Wife can sell the property in his absence or without his consent.
Anirudh
(Expert) 30 November 2014
Without his physical presence it is not possible for the following reasons:
1. If he gives a GPA in favour of his wife, there again the GPA has to be registered - for which his presence is required as his photograph, finger prints etc., will be captured at the time of Registration of the GPA.
2. If he wants to give relinquishment deed, there again his presence is required - the same procedure as applicable to GPA is called for.
Dr J C Vashista
(Expert) 30 November 2014
Wife can sell the property in absence of her husband for her own share.
If authorised by husband properly (legally), wife can sell entire property in his absence.
Guest
(Expert) 30 November 2014
As the Divorce itself is on Mutual Consent The husband could either execute a Relinquishment Deed Or Settlement Deed in Favour of His Wife Or Children If there.The Husband's wish seems to just get Relieved and I do not Find any Problem for him in attending the Registrar Office Once which is Un Neccessarily Discussed Here.
Rajendra K Goyal
(Expert) 30 November 2014
The husband can give POA in favor of wif, can execute relinquishment deed.
ajay sethi
(Expert) 30 November 2014
agree with MR anirudh
Guest
(Expert) 30 November 2014
Routine Chants always gets Repeated.
K.K.Ganguly
(Expert) 30 November 2014
1. To enable the wife to be able to sell the said jointly owned property without the presence/consent of the co-owner husband, the wife shall have to be the sole owner of the property,
2. For the said purpose, the husband has to execute and register Relinquishment/Settlement/Gift Deed in favour of his wife.
Biswanath Roy
(Expert) 30 November 2014
Right title interest in an immovable property cannot be revoked, it can be transferred in favor of the wife by executing a Gift Deed so that property can be treated as her self owned property and for such purpose Donor i.e.,the husband has to appear before the Registrar for registration of the Gift Deed. To fulfill the desire of the author this is the best way. On the other hand Deed of Relinquishment or settlement may cause legal dispute in future by adopting a legal mischief.
Lalit
(Querist) 01 December 2014
What is the Cost involved to execute a Gift Deed at the Registrar in the favour of Wife?
ajay sethi
(Expert) 01 December 2014
get gift deed drafted by a lawyer . you have to pay stamp duty depending upon market value of property as per ready reckoner rates . have it registered .
Lalit
(Querist) 01 December 2014
This seems to be the most expensive gift ever where 3.5 lac Rupees will go to Stamp Duty as per Ready Rekoner + the Property Rights worth 50 lacs. I guess Gen. POA is better option.
What do experts have to say on this?
ajay sethi
(Expert) 01 December 2014
execute POA if husband wants wife to sell the property on his behalf . POA for sale of property needs registration
Sailesh Kumar Shah
(Expert) 02 December 2014
so execute and register power of attorney in favour of your wife.
It is to be noted money received by the wife for sale of property, would be given to the husband.
T. Kalaiselvan, Advocate
(Expert) 03 December 2014
If the husband has consented to revoke his ownership in the property, instead of going around with one or the other method, let the wife look for a prospective purchaser, fix the date for registration of sale, call the willing husband to the registrar office, execute a joint sale deed in favor of the buyer and complete the formalities once and for ever.
Biswanath Roy
(Expert) 04 December 2014
Very good advice from Learned Mr. Kalaiselvan. Follow his advice.
