Co-ownership

Just ask the transferer to execue the sale deedd in favor of two persons and convince the bank  with a request to modify the loan papers relating to the loan transaction,showing that there are two borrowers,

Advocate Pandya is rightly stated.

What would be benefit to add spouse name as co-owner of property ? If one spouse dies unfortunately, in such situation will surviving co-owner ( spouse ) ) be 100% owner of the property even after if there is no WILL or Hindu Succession Act 1956 will apply even in joint ownership property of couple in absence of WILL.

What would be benefit to add spouse name as co-owner of property ? If one spouse dies unfortunately, in such situation will surviving co-owner ( spouse ) ) be 100% owner of the property even after if there is no WILL or Hindu Succession Act 1956 will apply even in joint ownership property of couple in absence of WILL.

Thanks Pandya Sir,

But as I mentioned I have already submitted the Stamp duty on the basis of initial valuation my bank is telling it is not possible legally to include co-owner name as Stamp duty has been deposited to Govt. Is it true? they are telling now the only option is to have a Gift deed after Registration. Please advise.

You said that, sale deed document has not yet registered so still you can add your spouse name in the list of  Purchaser's name.  How can bank official say to execute gift deed ? You convey them that sale deed document has not  yet registered.  Bank  has initially sanctioned loan thinking that you are the sole owner of this property and later on you wished to add one more co-owner in the said property so there is the problem.  You just convey the bank official , also can give undertaking for this.