TRANSFER OF PROPERTY TO SPOUSE
Querist :
Anonymous
(Querist) 07 April 2011
This query is : Open
Self & spouse are the joint owners in a residential property. The entire cost of the property has been funded / paid by self & without any amount paid from the spouse. The property is in the state of Maharashtra & is registered with the relevan statutory authorities & the stamp duty & registration fee paid at the time of buying the property, about 5 years ago.
My query is: i would like the spouse to be the sole owner of the property & i will not seek any consideration for relinquishing my right as the co-owner. Are therea any tax implications. what document requires to be executed. As the name will be changed in the government records, does the stamp duty & registration fee required to be paid. I shall appreciate to receive valuable reply. Thanks in anticipation!!
