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Rahul (h)     02 January 2010

Buying wife's share of joint property

Hi:

I have a flat in Hyderabad, registered jointly in my wife and my name. We both are working and have decided to separate. I have agreed that I would buy her share on this apartment. What are the paperwork/agreements required for this transactions?
I would like to have trace of transaction that I paid her money for fair share. Is gift deed or sale deed advised in this scenario?
Thanks for your help.

Rahul



Learning

 4 Replies

adv. rajeev ( rajoo ) (practicing advocate)     02 January 2010

sale deed : you will have to pay the stamp duty  it is burden on you.  Go for rights relinquish deed or gift deed.

Mani Narayanaswamy (Lawyer)     02 January 2010

Alternatively, you can go for a settlement deed, while your marriage is subsisting. 

Suchitra. S (Advocate)     02 January 2010

I agree with Rajiv ji.

V. VASUDEVAN (LEGAL COUNSEL)     03 January 2010

 settlement deed will be a better option.

vasudevan


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