• Property transfer options

I have a flat in Mumbai in my and my wife's name. In the sale agreement registered, the shares for the flat have been mentioned as 80 ( my share) :20 ( wife share) If I want to transfer all rights on my name for the purpose of selling the flat in the future, what is the best mode for this? Whether a gift deed duly registered is enough?
In a scenario, my wife is not able to come for to registrar office for the property registration during sale, which document will be accepted for a sale in her absence? Also it should be legally acceptable and not result in any issue for the purchase
Asked 3 years ago in Property Law
Religion: Hindu

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26 Answers

Please prepare Special Power of Attorney of your wife be her attorney for sale,transfer and registration of flat before competent authorities under the law  

 

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

5.0 on 5.0

Gift deed would attract stamp duty as per circle rates. It is  better to get a relinquishment deed executed and registered in your favour in respect of her 20% share.  Only registration charges and nominal stamp duty is to be paid. 

Dalip Singh
Advocate, New Delhi
1084 Answers
36 Consultations

5.0 on 5.0

1. You may transfer your 80% Share in favor of Wife via a proper Stamp Duty (200/-) and Registered (200/-) Gift Deed.

2. After Gift Deed is registered, Wife can register Power of Attorney (POA) document in your favor for purposes of selling her property. 

3. AFTER above when Wife wants to sell her 100% and Wife is not able to be present in registrar's office, you can represent her on basis of the Power of Attorney (POA) before the registrar for signing of future Sale Deed.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

your wife can execute gift deed in your name 

 

it should be duly stamped and registered 

 

3) after execution of gift deed your wife presence is not necessary at time of execution of sale deed 

 

4) your wife can execute registered POA in your favour 

Ajay Sethi
Advocate, Mumbai
94723 Answers
7532 Consultations

5.0 on 5.0

For sale deed wife should be present or need to take court permission she is unable to come to registrar office, so need to make quite claim deed so your wife's share will be transferred on your name.

Ganesh Kadam
Advocate, Pune
12930 Answers
255 Consultations

4.9 on 5.0

1) registered gift deed is sufficient to protect your interests 

2) if wife does not want to execute gift deed for sale of flat her presence is necessary for sale unless she executes registered PIA in favour of family member to execute sale deed 

Ajay Sethi
Advocate, Mumbai
94723 Answers
7532 Consultations

5.0 on 5.0

1. Let your wife execute either a Gift Deed or Release Deed in your favour. By executing such a deed by your wife in your favour, you will become sole and absolute owner of the property ( 100% ).

2. Your wife can execute a registered POA in favour of anyone including you, to execute either Gift or Release Deed in your favour, on her behalf in the jurisdictional Sub Registrar's Office.

3. By following the above steps, you will be free from legal hurdles. 

Shashidhar S. Sastry
Advocate, Bangalore
5116 Answers
314 Consultations

5.0 on 5.0

Share Certificate. 

You need power of attorney executed by your wife to appoint you as her attorney. 

This is specific and one single document/documents which would help you to get property transactions done as per law.

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

5.0 on 5.0

1) registration charges are maximum Rs 30000 

 

2) stamp duty on gift deed would be around 2 per cent of market value of her share in property as per ready reckoner rates 

3) POA stamp duty should be Rs 500 

Ajay Sethi
Advocate, Mumbai
94723 Answers
7532 Consultations

5.0 on 5.0

1. You are welcome. Her physical presence is not required for registration of the Gift Deed in your favour. POA holder will represent her during the time of registration.

2. The Stamp Duty for registration of documents varies from State to State. In Karnataka, the Stamp Duty for registration of Gift Deed is Rs. 5000/- + Registration fee of Rs.1000/- amongst blood relatives and between husband and wife. 

 

 

Shashidhar S. Sastry
Advocate, Bangalore
5116 Answers
314 Consultations

5.0 on 5.0

SPA Simply requires 1 K registration charges. 

Gift deed needs the presence of settler to execute the Gift deed in favor of settlee the beneficiary based on the the percentage of the value of property as per shedule and slot framed by the State and Central Government. 

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

5.0 on 5.0

Yes gift deed or registered relinquishment deed is enough. 

Prashant Nayak
Advocate, Mumbai
31951 Answers
179 Consultations

4.1 on 5.0

- Yes, you wife should execute a registered Gift deed in your favour .

- If your wife not able to appear before the Registrar, then she can execute the Gift deed after giving SPA/POA in favour of any relative .

- Gift deed cannot be cancelled/revoked without getting a court order , hence it is very much acceptable. 

- Further, after having Gift deed , you will become the single owner of the flat , and further can sell the same .  

- POA will be given for the purpose of execution of gift deed , hence a nominal stamp duty will be paid , specially when it is given to relative. 

Mohammed Shahzad
Advocate, Delhi
13222 Answers
198 Consultations

5.0 on 5.0

Sale through gift deed not valid, she can transfer her share through gift deed without consideration or release deed with consideration or she can give you POA than you can sell the property without her presence.

Her presence will require for registration of deed.

POA is best option, 1000 to 1500rs registration fees.

Yogendra Singh Rajawat
Advocate, Jaipur
22636 Answers
31 Consultations

4.4 on 5.0

Yes, the presence of the party is needed.

Swarupananda Neogi
Advocate, Kolkata
2964 Answers
6 Consultations

4.7 on 5.0

POA will be the best option

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

4.8 on 5.0

She may Execute Gift deed or relinqushment deed in your favour. it should be duly stamped and registered. 

If she is unable to Come she may execute POA. 

 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

Gift deed or Relinqushment deed  is sufficient. 

 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

Both the Donor and the Donee in the presence of 2 witnesses are required to sign the gift deed. 

stamp duty is state subject varies from state to state. 

 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

She will have to make a transfer deed to you and thereby that deed will have to be registered. Unless there is registration of that document the shares wont be considered to be transferred as mere notary on a stamp paper will not amount to transferring of your wives share in your favor. 

The registration will also validate that the necessary stamp duty has been paid to the government and thus you can  further sell the property as the single owner in the future without any hasells. 

Garima Anil Mehrotra
Advocate, Mumbai
514 Answers
1 Consultation

4.9 on 5.0

1. Your wife need to execute relinquishment deed to give up her share from joint property in favour of other co-owner that is you. 

2. The relinquishment deed should be duly stamped and registered with sub registrar.

3. If your wife doesn't give up her share and she cannot go to sub registrar for registration of sales deed in favour of buyer then you can take a registered POA from her for selling the property on her behalf.

 

Mohit Kapoor
Advocate, Rohtak
10687 Answers
7 Consultations

5.0 on 5.0

You first decide that whether you want the property to be on your name or that you want to sell the property?

If you want to sell the property, then you can obtain  registered power of attorney deed from her on your behalf and sell the property on her behalf also.

In that event she do not have to come to the registrar's office for executing the registered sale deed in favor of the prospective buyer.

 

 

T Kalaiselvan
Advocate, Vellore
84923 Answers
2195 Consultations

5.0 on 5.0

If you are intending to sell the property and not want to retain the same, then you better get a registered POA deed executed by your wife in your favor.

With the support of the said deed, you can execute a registered sale deed in favor of the prospective buyer.

 

T Kalaiselvan
Advocate, Vellore
84923 Answers
2195 Consultations

5.0 on 5.0

The stamp duty for the value of the property for gift deed can be enquired from the registrar's office.

However the stamp duty for POA shall be one percent in respect immovable property, you may enquire about this also in the same registrar's office or with the deed writer.

T Kalaiselvan
Advocate, Vellore
84923 Answers
2195 Consultations

5.0 on 5.0

The stamp duty for the value of the property for gift deed can be enquired from the registrar's office.

However the stamp duty for POA shall be one percent in respect immovable property, you may enquire about this also in the same registrar's office or with the deed writer.


The stamp duty for the value of the property for gift deed can be enquired from the registrar's office.

However the stamp duty for POA shall be one percent in respect immovable property, you may enquire about this also in the same registrar's office or with the deed writer.

T Kalaiselvan
Advocate, Vellore
84923 Answers
2195 Consultations

5.0 on 5.0

  1. As per the information mentioned in the present query, makes it clear that your wife is having the 20 percent share in the property which you want now to be transferred on your name.
  2. I would like to apprise you that you need to have the draft ready for the gift deed or release/ relinquishment deed without any consideration from your wife to avoid the heavy stamp duty on it.
  3. Once you have the draft ready then you can get it done self also with two witnesses before the SDM office and it won’t be costing you from more than few thousand only.
  4. You need to have her presence at the time of gift or release deed registration, but surely not at the time of sale deed in near future.

Sanjay Baniwal
Advocate, South Delhi
5474 Answers
13 Consultations

5.0 on 5.0

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