Adding wife's name to title deed
smil
(Querist) 31 May 2012
This query is : Resolved
Hi ,
I had bought a property 5 years ago in my name. I would like to add my wife's name to the title deed. what is the procedure and should i pay for stamp duty to do this ?
After my death will my wife get the property according to Muslim Law if i do the above ?
thanks
Adv.R.P.Chugh
(Expert) 31 May 2012
Dear Querist,
Such property is your absolute property right now. You'd have to gift the property in part or in toto - to your wife in order to add her name by way of a registered gift deed or even an Oral Hiba. (former is more preferred).
If the same is done and property is given to her in toto then she retains the property even post your death - however if she is made a mere joint owner - then the other half which you own would go by inheritance - i.e your wife would take 1/4th or 1/8th as the case may be.
Feel free to talk !
Shonee Kapoor
(Expert) 31 May 2012
Rightly explained by Ld. Chugh, but get the gift deed registered to avoid future litigation.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
K.K.Ganguly
(Expert) 31 May 2012
No, her name can not be added to the existing Title Deed as co-owner now. Presently you are the rightful owner of the property alone. If you want her name to be joined as a co-owner of the property, then gift 50% percent of the property by registering a Gift Deed in her favour. This will suffice your purpose & intent.
K.K.Ganguly
(Expert) 31 May 2012
No, her name can not be added to the existing Title Deed as co-owner now. Presently you are the rightful owner of the property alone. If you want her name to be joined as a co-owner of the property, then gift 50% percent of the property by registering a Gift Deed in her favour. This will suffice your purpose & intent.
smil
(Querist) 31 May 2012
Thanks all for quick reply..
If i do registration of property under "gift deed", do i have to pay stamp duty based on the current cost of the land, the land is in kochi.
also is this valid under muslim law.
thanks again
K.K.Ganguly
(Expert) 01 June 2012
Yes of course. But the stamp duty for gift deed will be comparitively very less.
