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Lalit   12 January 2016

Change through rectification deed

Hello, I am faced with a unique problem, so it appears. I have booked an under construction flat in Mumbai and registered the same in December 2015. The flat is registered under joint name with my wife's name appearing first and mine second. Since this is the first property I did not give it much thought, though all the funding has come from me. I have now realised the complexities of joint ownership and more so the effect of having wife's name first. I have been wondering if there is a way to undo this and change the order of the names with mine appearing first, maybe through a rectification deed or through some other document. Can some guide me with this. Also, will be make sense for my wife to gift her share in the property to me and register the same, since loan has yet not been availed on the flat. Please guide me with the right action and implication.


Learning

 1 Replies

Mayur shikhare   21 January 2016

Please enter into a rectification deed as the gift deed will attract further stamp duty at 2% of the property value.


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