this is your joint property and jointly owned by you both. you have two option one is partition deed and second is family settlement.
instrument of partition is required to be stamped under Schedule 1 of Article 45 r/w Section 2(15) of the Stamp Act.
family settlement does not create or extinguish any rights in immovable properties and, therefore, does not fall within the mischief of Section 17(2) of the Registration Act, 1908 and is, therefore, not compulsorily registrable. family settlement just define the right because all members have been in possession thereof so they have ownership and full right towards property because of thes it does not need to be stamped.