Mutual consent divorce - gift deed

Querist : Anonymous (Querist) 12 December 2020 This query is : Resolved
Hello Everyone,

My wife walked out on me in the month of Jan'2020. Me and my family tried to pursue her to come back but she is not willing to come and want to get divorced now. I have also agreed to go for mutual consent divorce now.

So, we discussed for the settlement already. Under which, we have only concern of under construction flat on our name. I agreed to transfer the ownership of the flat while she will give us the amount of difference in terms of Cheque. In regard with which, I have below queries:

1. To process the gift deed, she is asking me to give declaration in written that I don't have any interest in house and want to gift her without any consideration. I want to ask that if I should take the difference amount cheque first and give the declaration letter or it is fine to proceed as it is.

2. We opted for joint home loan, so do I need to remove my liability in consultation with Bank first before going for gift deed.

She is continuously following up with me saying there will be increase in stamp duty from Jan and she doesn't want to go for it. So, I need to understand above queries before I can proceed further.

Thank you in advance for your help.

Follow Query

Report Abuse

Quick Summary

A man is seeking advice on a mutual consent divorce where ownership of an under-construction flat is the main point of contention. He has agreed to transfer his stake in the flat to his wife, who will pay him the difference in value via cheque. He's unsure about the correct order for providing a 'gift deed' declaration and receiving the payment, and whether he needs to address his joint home loan liability with the bank before proceeding with the gift deed. The advice suggests settling the consideration amicably and consulting the bank regarding the loan, as a gift deed typically involves no financial consideration.

Dr J C Vashista (Expert) 13 December 2020
Title of the subject flat is yet to be transferred by the builder in the name of allottee/ purchasers.
Besides this, possession of the flat is not yet been handed over to you.
Settle the cosideration amount amicably.
In these circumstance what do you have to donate and get the "gift deed" registered ?

P. Venu (Expert) 13 December 2020
The posting suggest no legal elements. As to the modality of settling the loan, it is only the bank who can provide the guidance/assistance.

Rajendra K Goyal (Expert) 13 December 2020
On getting consent from all parties, builder can remove your name / can enter into a new Buyers agreement as the property is under construction. Regarding consideration, settle the matter amicably.

Gift deed is not associated with consideration.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries