Withdrawal of name from flat ownership

Querist : Anonymous (Querist) 04 April 2021 This query is : Resolved
My husband bought a flat and made me a joint owner. Is there any way to withdraw my name from this ownership as I don't want myself to be the owner..

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Advocate Bhartesh goyal (Expert) 04 April 2021
You can't withdraw your name from joint ownership flat however you can relinquish your share in favour of your husband by registered deed or can gift your share to your husband by registered deed and make your husband absolute owner of flat.

SHIRISH PAWAR, 7738990900 (Expert) 04 April 2021
Hello,

Transfer your share by executing gift deed in your husband's favour. Gift deed attract less stamp duty.

kavksatyanarayana (Expert) 04 April 2021
If you wish to withdraw in joint property with your husband, you can execute a Gift Deed in favour of your husband for your half share or you can execute a Relinquishment Deed(release deed) for your share in your husband's favour. Roughly the Stamp duty for Gift deed or Relinquishment deed is less for family members in most of our States.

Dr J C Vashista (Expert) 05 April 2021
Execute a gift deed in favour of your husband.
Relinquishment deed is not applicable in the instant case as the property is self-acquired.

krishna mohan (Expert) 05 April 2021
Joint ownership is registered already as noted in your thread. Any registered document you can gift or relinquish. You can consult a local lawyer to peruse and draft a gift deed/will all your share to your husand.

Hemant Agarwal (Expert) 06 April 2021
1. IF your name appears in the duly Stamp Duty paid Registered Sale Deed of the Flat, THEN you shall be classified as "Joint Owner". IF your name is not in the Sale Deed, THEN you are not any type of Owner of the Flat. By virtue of this you CANNOT execute any Gift, IF you are not the Joint-Owner.

2. IF your name appears in the Society records as a "Joint Member", THEN too you CANNOT be classified as "Joint Owner" under the parameters of Transfer of Property Act and you CANNOT execute any Gift, IF you are not the Joint-Owner.

HENCE, clarify above technicality by showing available documents to a local Property Lawyer.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

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Withdrawal of name from flat ownership

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