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Sidharth (Officer)     06 May 2015

Single ownership of joint property

Dear Members, I had purchased a flat in Rajasthan in 2012. The flat was purchased by paying Rs 10 Lakh from my own money and Rs 20 Lakh from SBI Loan. Since I was undergoing a divorce that time, On lawyers advice the flat was purchased with my mother as the primary owner and me as the Co-owner, Also the loan was applied as her as primary applicant and self as co-applicant. However as she has nil income ( my father has double of my income in case anyone doubts my intentions later), The loan is entirely repaid by me. The flat was to be put on rent with an understanding of me with my parents that i'll be collecting the rent to offset the EMI. However, My parents have been collecting the rent inspite of my constant request to send me that money, Infact now have refused to send me the money and threaten that they will sell the property if I keep asking them for rent. NOW MY DIVORCE IS OVER AND I WANT TO KNOW WHAT IS THE PROCEDURE OF GETTING THE SOLE OWNERSHIP OF THE FLAT. CAN I ASK HER TO MAKE A GIFT DEED ON MY NAME. IF THEY REFUSE, IS THERE A POSSIBILITY THAT I STOP PAYING THE (WILL THE BANK SEND NOTICE TO HER OR ME OR BOTH). I'M SURE IF THEY GET A BANK LEGAL NOTICE THEN THEY WILL BE IMMEDIATELY READY TO TRANSFER THE PROPERTY TO ME. ALSO IN CASE IF SOMETHING HAPPENS TO HER, CAN MY TWO MARRIED SISTERS CLAIM SHARE IN THE FLAT/ CAN MY MOTHER TRANSFER TO THEM THROUGH WILL..??

 3 Replies

Kumar Doab (FIN)     06 May 2015

Other threads by querist:


Mother can gift,WILL her share to anyone. Let the gift deed be unconditional, and drafted your trusted and able lawyer to suit your interest. Sale/Relinquishment deed can be good options.

Her daughters (your sisters) are her ClassI legal heir/successors and eligible for equal share if she (mother) dies without leaving a WILL.




1 Like

Sidharth (Officer)     06 May 2015

But doesn't a sale/relinquishment deed attracts capital gains tax. What is her considered share in property if I have proof of payment of cash (Rs 10 Lakh) from my account and also in loan documents her liability is 0% and mine 100%. Also, I have proof of 100% payment of all EMIs. Doesnt that make her share 0%. and if it is 0%. wouldn't the stamp duty on gift deed also be zero instead of 2.5%


saravanan s (legal advisor)     06 May 2015

since you are a coowner your mother cant sell your share in the property but she can will or gift her share in the property to anyone that she wishes to give.if you are not paying emi for the property then definitely your mother has to pay the can ask her to gift her share to you to become the absolute owner of the property

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