Sagar 07 June 2017

Release deed between divorced couple

Hello

My ex-wife and I are joint owners of a property in Bangalore. As per the divorce terms and conditions, she has agreed to release her part of the property to me, making me the sole owner.

My questions are:

1. What are the papers needed. I dont have a B nor A Khata as the builder didnt file for one. Can I do the release deed with only my property tax reciepts and sale deed?

2. There is no consideration or profit or money paid. Will there be a stamp duty 6.6% of the value of the flat That I will have to pay? And will it be for only 50% of the value? or for the whole value?

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10 Replies

Kumar Doab (FIN) 07 June 2017

Relinquishment/Release deed may be one of the options.

Local terms/rules/laws are involved.

Local counsel specializing in revenue matters and well versed with Local terms/rules/laws can advise you the best.

Sagar 08 June 2017

That's not a very helpful reply. Can some one from Bangalore please let me know. This is very urgent

shrenik (lawyer) 08 June 2017

2 owners of property means both are owner of 50 percent No ur wife have to execute gift deed only Stamp duty will be half As u are already owner of half property Say @ if duty is 1 lakh then you have to pay 50000 only

shrenik (lawyer) 08 June 2017

One can only relinquish his rights if he has got property by will or in ancestral property

Sagar 09 June 2017

But she is my ex wife. Will I still need to pay stamp duty. Also how does one get to know the exact stamp duty.

Kumar Doab (FIN) 09 June 2017

The property is owned by more than one person.

Release deed can be used for transfer of share of property between husband and wife in case of divorce.

For such deed with or without consideration is your need/choice and the SRO can advise you on duty, charges, registration fee, documents etc etc ………….. .

A senior deedwriter can also help you.