• Joint property ownership

Me and my wife are joint property owner of an apartment in Chennai. I wish to transfer my joint ownership to my wife whereby she enjoys the sole ownership of the property.

Can I execute settlement deed in favour of my wife by paying appropriate stamp duty as per the state  act? If yes, please provide most acceptable format for executing the settlement deed at the SRO.
Asked 4 months ago in Property Law from Chennai, Tamil Nadu
Religion: Hindu
1) you can execute gift deed wherein you can transfer your 50 per cent share in apartment to wife 

2) it has to be duly stamped and registered

3) we do not provide formats . 

4) draft depends upon facts of each case 
Ajay Sethi
Advocate, Mumbai
23294 Answers
1220 Consultations
5.0 on 5.0
You can execute a gift deed of your share in her favour, which should be registered and stamped. To get the deed drafted you may engage any lawyer frpm this portal.
Ashish Davessar
Advocate, Jaipur
18161 Answers
449 Consultations
5.0 on 5.0
You can execute a registered settlement  deed (cost effective) or a registered gift deed in her favor subsequent to which she can mutate the revenue records on her name.

This will entitle her to become an absolute owner of the entire property.

She can hen transfer the EB connections, water supply connections, share certificate of the society, can apply for single member from the associate member of the society after having transferred the property fully on her name. 

For preparation of settlement deed, you may have to engage the services of an advocate on payment of his fee separately for the services you are desiring to avail. 
T Kalaiselvan
Advocate, Vellore
14069 Answers
127 Consultations
5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Property Lawyers

T Kalaiselvan
Advocate, Vellore
14069 Answers
127 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
23294 Answers
1220 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18161 Answers
449 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12123 Answers
231 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
5227 Answers
54 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
868 Answers
43 Consultations
5.0 on 5.0
Atulay Nehra
Advocate, Noida
437 Answers
15 Consultations
4.7 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2752 Answers
41 Consultations
4.9 on 5.0
Ajay N S
Advocate, Ernakulam
1916 Answers
19 Consultations
5.0 on 5.0
S J Mathew
Advocate, Mumbai
1950 Answers
65 Consultations
5.0 on 5.0