Atanu (SDE) 05 May 2014

Transfer of house property

Dear Sir,

Me and my ex-wife co-own a house property in Bangalore, India. We have taken a housing building loan for the same with me as primary applicant and my ex-wife as co-applicant. We got possession of this property less than a year ago.

What is the procedure to transfer the property complete to her name? What are the tax implications? Otherwise, can I provide a power of attorney to her so that she can sell the flat on her own (without requiring my authorization)? Any help would be greatly appreciated.

Thanks

Atanu

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3 Replies

adv.raghavan (Advocate,9444674980) 05 May 2014

go for release deed or relinquishment deed of your share in that property favg your wife, No need to go for POA.

Atanu (SDE) 05 May 2014

Thanks so much Raghavan Sir!! Couple more queries:

1. We paid registration and stump duty along with property tax last year only. So for the release deed or gift deed,, do we have to pay the registration and Stamp duty again?

Thanks

Atanu