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Buying wife's share of joint property

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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

 
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practicing advocate

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

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

 
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Advocate

I agree with Rajiv ji.

 
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LEGAL COUNSEL

 settlement deed will be a better option.

vasudevan

 
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