Gift deed/release deed

Dear members,

I have already filed for mutual consent divorce. Divorce is due for next month.

Now, I want to do a gift deed my share of property to my wife, property is a joint property on both of our names.

 What is right option to do here, GIFT deed or RELEASE deed?

  Second Query:

 My wife is going to take loan against this property apart from existing loan. If I am going to gift this property to her then Would I still be responsible for loan on that  property? Do I need to do some legal processing in order to clear my name out of this loan?

 I would appreciate if you can revert with detailed answer.