I and my daughter own a bhk flat.1st name is mine 2nd is my daughter's, though for income tax point of view she has wholely contributed to the purchse from her ac.( i had gifted the amount to her ).
i have purchased a new house for her after her marriage .
now i want to delete her name from the earlier flat .society has already been formed
pl guide me.
Asked in Property Law from Dombivli, Maharashtra
Your daughter can execute gift deed or relinquishment deed in your favour for her 50 per cent share in flat
2) gift deed or relinquishment deed should be duly stamped and regd
It is immaterial as to whose names appears first and whose second. You and your daughter are the joint owners of the flat. The only way in which you can get the absolute title of the property is if she executes a gift deed or release deed in your favour which will have to be mandatorily registered.
Your daughter will have to execute a deed of gift or deed of release which requires to be registered and stamp duty paid and then only her half share will be transferred in your name and subsequently her name would be deleted from share certificate.
Prepare a gift deed and register .
Your daughter can transfer the 50,?through a gift deed or a relinquishment deed .However gift deed is best and less expensive option .
Once the gift deed is registered in your name apply for the transfer of.member ship in your sole name ,by moving application for transfer in the prescribed format.
The stamp duty will be less comparing to relinguishment or sale deed.so go for agift deed which is an absolute title documents instantly on registration.