Co-owner status of flat after agreement or after registration
Myself Arunava Sinha, a central govt employee have booked a flat in Howrah, West Bengal. We had agreement with developer and in that agreement both myself and my wife has signed as Co-owners. Subsequently we have applied for home loan as co-applicants. All booking amount and EMIs are being paid by me only. The registration of the flat is not done yet.
Now we are facing turmoils in our marriage life (married for 3 yrs). In the registration of flat (probably in March-April) can i register the flat in my own name only or it will be mandatory to add my wife as co-owner since she had signed in the agreement.
Asked 2 years ago in Property Law from Kolkata, West Bengal
1) your wife can issue letter to builder to register flat in your name only
2) if your wife submits an application builder may agree to register flat in your name
3) you would need NOC from bank too as loan has been taken in joint names
Hi, you can request the builder to register the flat in your own name, there is no bar under law that you must register the flat along with wife, since she has signed the agreement.
If you and your wife are the co-applicants then she can enforce the right to joint ownership of the flat. You can convince the builder to register the sale deed in your favour alone but this has to be preceded by the cancellation of the original agreement or your wife has to execute a POA in favour of the builder to authorize him to register the sale deed in your favour.
It is legally immaterial as to who pays the EMIs. This is a domestic arrangement between the spouses.
after entering into the agreement for the purchase of flat in joint names, based on the sale agreement bank has processed the loan and also disbursed the loan in joint names, you alone may be paying the EMI's but enquire with the bank if loan is sanctioned in joint names or only in your name. If bank says only in your name then you can inform the builder to register the flat only in your name, but if bank has sanctioned loan in joint names, then bank will not allow you to register the flat in your single name.
1. Write to the developer to register the flat in your name since you are the sole payer of the consideration of the flat,
2. Write to the Bank also for converting the loan in your name only since you are paying and also since you will be paying the EMIs as your wife is a housewife having no income,
3. The Bank may ask for a consent letter from your wife,
4. if the Bank agrees to convert the joint loan account to single loan account in your name your problem will be over and the developer will have no problem in registering the property in your name.
As per the sale agreement both have opted to be co-owners hence it would be illegal to exclude her name during registration. the builders will not agree for its exclusion with a NOC from her.
Therefore it will be pertinent to get NOC from her for excluding her name for registration of property sale deed document.
Also in home loan too, you may excluded her name as co-applicant and restructure loan only on your name alone.