Jegatheesan (Sr Process Designer) 08 June 2013
Hello All,
I am planning to buy 2 flats in the same floor and combine it to make it one flat. Construction is yet to start and builder is OK to make changes in construction accordingly
1) Can I have 2 sale deed for the flats one on my name and another one my wife name?
2) Will I face any issues while selling the flat?
3) Can I get 2 loans one on my wife name and one on my name?
4) Can I make changes later to convert that as 2 flats?
Thanks
Jegatheesan
Advocate Ravinder (Advocate/Attorney) 08 June 2013
It will be treated as Joint property and when you go for loan, both of your signatures are required. Even if you want to sell, both of your signatures are required.
Later if you want to make it seperately on your own names. You have to enter into a partition deed on Rs.100/- N.J.Stamp each by paying 1% stmap duty on the market value (please check up in sub registrar office is there any provision that only small lumsup amount is there for family members). After registration, you can divide the flats and you can do whatever you want.
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