You can do for registered relinquishment deed of your share in the same
Release Deed or Gift Deed
Hi Team, Need expert advice on below My husband is a co-owner on one of my property and wants to change the ownership to me completely . What i heard is it draws additional Stamp duty charges / Registration charges . Some data i checked online says that there is no stampduty charges in Maharashtra The property is still under construction , would that be a hindrance. Could you please guide what is the most appropriate and feasible way to get this done. Thanks in advance
Asked 5 years ago in Property Law
Religion: Hindu
16 Answers
You can go for quit claim deed if the property is purchased jointly between husband and wife.
Please ask him to WILL it out clearly mentioning you as sole owner. No registration of WILL No Stamp Duty on WILL.
You have to pay a lawyer who may finalize WILL as per your requirements. No hessel and problem with WILL.
The WILL is safe and secured without approaching for registration and payment of stamp duty.
Husband should execute gift deed in your favour
it should be stamped and registered
it would attract 2 per cent stamp duty
To get a release deed executed and registered in respect of his share in your favor. Sale deed read with release deed confer absolute ownership in your favour.
Either gift deed or release deed. Both will attrack stamp duty. It is less on release deed.
At the time of registration of property your husband can issue NOC to the builder to register the property to your name because the property under construction is yet to be registered on the buyer.
1. Husband may execute a Registered Gift Deed of his 50% share of under construction property to you, which shall be Final & Irrefutable for all future legal purposes.
2. In Maharashtra, for Gift Deed, between Husband to Wife:
Stamp Duty = 200/-
Registration Fees = 200/-
3. Release Deed is not applicable for joint properties, while either party is alive.
- If the said property already executed in name of you both , then legally he is a joint owner of the property .
- Further , for making you single owner of the property , either he executed a Relinquishment or Gift deed in your favour .
- Further , as per section 17 of the Registration , both should be registered from the office of the Registrar after paying the stamp duty over the same. otherwise having no value in the eye of law.
- For registration being blood related , you have to pay 1% of government rate of that property. in Maharashtra.
Your husband can transfer his right in the property to you by a gift deed
Gift deed between spouses attracts stamp duty of only Rs 200 and nominal registration fee of Rs 1000
As property is still under construction, the builder's noc will have to be taken
The above concessional stamp duty is applicable only for transfer of residential property and not commercial property
Your husband can register his share in your favour through a registered gift deed. 3 per cent stamp duty on his value of share shall be applicable. Even sale deed is already there in favour of you and your husband giftt can be made.
Most appropriate way would be the gift deed.
He should make a relinquishment deed and register it and give it to you. Based upon that the mutation has to be done in your name.
Dear Sir/Madam,
You are suggested that your husband may give one NOC or release deed of share of his property and the same may be used by you for having the complete ownership.
1. Your husband can execute relinquishment deed in your favour for transfer of his share on your name.
2. It will attract stamp duty and registration charges which differs from state to state.
stamp duty is state subject varies from state to state.
