Transfer of ownership

prerna gupta (Querist) 08 November 2013 This query is : Resolved
Hi
We live in Ghaziabad and have a property which is registered on my husband and my name. this was purchased in 2003. The property has a house load for which i alone pay the home loan amount.
Our divorce would be final in Nov. I want to take the ownership of the house completely, for which i am ready to pay the sale amount.
Questions:
1. Should the transfer be done via a Sales deed/Gift deed/Relinquishment deed?
2. Can any of the above be registered in court (considering the property papers are with the bank).
3. Do we need to register the deed or we need original property papers for change of title
4. What % of stamp duty and registration fees will be applicable in Ghaziabad
5. if it is gift deed does it need to be done before the Divorce is final?
And do you know any lawyer who can help settle this
really need help!
Thank You!

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V R SHROFF (Expert) 08 November 2013
U said Divorce is fixed in Nov-13
It also means it is 13B Mutual consent divorce.
If so, get this Trf recorded as one of the consent term, so it becomes court order.
& will be easy to trf.
no tax on it , as divorce alimony.

ajay sethi (Expert) 08 November 2013
you must have engaged a lawyer for your divorce case . you can incorporate the clause as to transfer of property in consent terms .

in the alternative sale deed can be executed wherein your husband sells property to you for consideration . stamp duty would depend upon market value of property . for stamp duty rates in UP you need to contact a local lawyer .

prerna gupta (Querist) 08 November 2013
Hi
The divorce is final and the court order is due on 23rd Nov. So itsnt that too late to make changes in the consent form?

Hence, thats why we are looking at the sales dead/transfer, do i need original registry papers since they are now mortgaged to the bank, how do i transfer the complete ownership to the house?
Could you help with a local lawyer?

Also, do i need to pay only 50% for the registry as stamp duty or the complete market value (since i am already the co owner)

Rajendra K Goyal (Expert) 08 November 2013
No need of original title papers.
You can get any of the relinquishment deed, gift deed or sale deed in which stamp duty is minimum in your state.
You have to get the property transferred in your name. Also the loan is to be transferred in your name from Bank. Generally Bank does not agree to exclude any borrower till full loan is paid.

Guest (Expert) 08 November 2013
Ask your lawyer to apply the ratio in the judgment passed by the Division Bench of the Hon'ble Bombay High Court.

Raj Kumar Makkad (Expert) 11 November 2013
I do agree with the wise advice of Ld. experts.

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