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Author Topic: Change home from joint ownership to single ownership  (Read 56 times)

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Offline LawBoy70

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Change home from joint ownership to single ownership
« on: August 08, 2018, 08:39:22 AM »
There are 2 homes which are jointly owned by a husband & wife. They want to make home 1 as sole ownership of husband & home 2 as sole ownership of wife?   

What is the legal way of doing this? Will it involve paying registration & stamp duty?   

If it involves a lot of costs, then are there other ways of doing it - i.e. some kind of legal promissory note where one person says I denounce my share of the home etc?

Offline advshruti

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Re: Change home from joint ownership to single ownership
« Reply #1 on: August 09, 2018, 08:59:31 PM »
make a relinquishment deed in both cases that will do

Offline LawBoy70

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Re: Change home from joint ownership to single ownership
« Reply #2 on: August 10, 2018, 03:34:01 AM »
make a relinquishment deed in both cases that will do

Aren't relinquishment deeds only relevant for property which is being inherited? i.e. you relinquish your right as a heir. 

Can it be used for this purpose also?

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