Transferring co-owner rights to another co-owner in property

Dear Sir, 

What I could understand from your query is that you and your father purchased a property jointly. Now your father wants to transfer that property to your name. You want to know how to effect the transfer in best way without you being around. 

Your father can execute a gift deed and get it registered. A gift of immoveable property can be made only through registered instrument. You don't need to be present there. The gift deed is signed by the donor (your father ) and attested by 2 witnesses. The deed is registered with sub registrar office. 

Lastly,  instrument relating to an immoveable property has to be registered within the jurisdiction of sub-registrar where the property is located.  It cannot be any other place. 

Regards

Shubham Bhardwaj (Advocate)

District & Session Court, Chandigarh

Punjab &Haryana High Court, at Chandigarh.

Disclaimer:- opinion is only for guidance. 

Dear Mr. Bhardwaj

Thanks for your quick and prompt response which perfectly connected to my query. Further to this, can you also please give me clarity on below,

1. For gift deed registration, what will be the charges? Property is in Hyderabad.

2. Once gift deed is done, can the property document will be re-issued by sub-register showing only my name as owner? If not what is the procedure for that?

Regards,

Kishore 
 

Dear Sir, 

1.  This one you will have to enquire your self from your local revenue officer. I am based in Chandigarh. Even if I find out the charges, that may not be authentic. 

2.  Gift deed is the title document. There will be no other document issued to you. Once gift deed is registered, get the mutation done on your name in the revenue records (Jamabandi). Nothing more is required to be done. 

Regards

Shubham Bhardwaj (Advocate)

Thanks for your informative response 

Dear Mr. Bharadwaj,

(Replying through another id as i cannot re-post another comment being last reply was mine)

We enquired at a Sub-register office , Hyderabad where the property was earlier registered. They were asking us to make a release deed. Can you please suggest which is better gift deed vs release deed. Further which is better considering below points
1. Tax implication for both / either side
2. in legality and rights of property is both are same.
3. Generally which will have more stamp duty gift deed or release deed
4. Further which deed is legally strong if i want to sell the property in future.
Please note that transfer is without any monetary consideration and currently both of us are co-owners.
Thanks in-advance for support and information.
Regards,
Kishore