Joint Property-divorce
Guest
(Querist) 04 April 2011
This query is : Resolved
Me and my wife separated in the year Dec'2006 and got divorce decree. After few months in March'2007 she returned back to my home with children and we started living peacefully. in 2009 we have purchased a flat in Delhi. We registered the property as co owners (As wife and husband, I am the first owner and wife as second co owner, Her name was mentioned as wife of me) and taken home loan jointly, me as main applicant. The flat was purchase on my initiative and mainly saving from my salary and other allowances like 65% from my side and remaining 35% from her side. Since then I am paying all the EMIs from my bank account. Even for registration amount I have taken personal loan. Now in 2011 again we have differences, she left the house with children. I want, I should have all the rights over the property (flat).She is ready to give power of attorney and ready to relinquish rights over the flat. How can I proceed? Is it possible to get legally thru irrevocable POA or any other option like thru release deed? I want to avoid future problems and litigation's later over the property. Neither my ex wife or children should not claim any right over the property, after paying all the EMIs for the next 16 years and money ,I do not want to loose the property as it is the only investment I have got now after the separation.. I do not want to repay all the registration charges over the half of the cost of the flat, also circles rates also increased in Delhi..
Please note
1. I want to have full rights over the flat with out any problems or litigations either from my Ex wife or children
2. She is ready to cooperate in giving POA or signing any legal document. In this respect we did not have any issue of non cooperation/fight among us etc.
Kindly advise me
adv. rajeev ( rajoo )
(Expert) 04 April 2011
POA can be exeucted only to deal with the properties on behalf of the owner in case she/he is unable to do the work personally. On the bais of POA you wont have full rights ove the property, so go for regd., rights relinquish deed, which is better to have full rights over the property.
R.Ramachandran
(Expert) 04 April 2011
Dear Mr. Rao,
Without getting into the legality or otherwise of your lifing as husband and wife after the divorce, let me concentrate only on the property angle.
Since the property in your joint names, the lady has to give a registered relinquishment deed, relinquishing her interest in the property to you.
Once this is done, you can get the entire property mutated in your name.
Devajyoti Barman
(Expert) 04 April 2011
The most suitable thing in this respect would be to make her gift her half share in the property in your name. Keeping the intermittent dispute between you in mind, it is not advisable to depend wholly on the POA alone.
Rajpal Sharma
(Expert) 04 April 2011
Yes, gift would be better option to tranfer share of your wife. I am 100% agree with Mr. Devjyoti Barman.
Guest
(Querist) 05 April 2011
I do not want to pay another 3-4% stamp duty or does not want to spend more money to get gift deed etc. I want it should be happen with minimal cost. We have registered in July 2009 in Delhi for 22.5 lacs. Now the circle rates in Delhi just doubled. Keeping in view of this I have to pay stamp duty minimum on 15 lacs which is a good amount.I want to know how much percentage is to be paid on gift deed? Is there any other best option where I can spend minimum amount?
