Sale deed has to be executed by brother in law in your favour
it should be duly stamped and registered
stamp duty is state subject and varies from state to state
Transfer of joint ownership to single ownership
Myself and my brother-in-law bought a joint property and now I have settled back the amount spent by him along with suitable interest back to him. What is the registration procedure for transferring the ownership to my name? Does it attracts, similar 11% stamp duty (in TN) when done at the first place? Kindly throw light on this aspect. Thank You
Asked 4 years ago in Property Law
Religion: Hindu
7 Answers
Dear sir,
you have to go for a transfer deed and get it registered to the concerned registration office of your area.
Guide To Property Registration Process
- Verification of the title of the property.
- Estimation of the property value.
- Preparation of the stamp papers.
- Getting the sale deed ready.
- Payment of the stamp duty & registration charges.
- Approach the Sub-Registrar for registration.
- Documents submission.
Let your brother in law execute a registered release deed in your favor. The stamp duty for release in tamil nadu is seven per cent of government market value of property, it has to be paid only on the extent of property he will be releasing in your favor.
Release deed is the best option. Should be 8%
G.Rajaganapathy
High Court of Madras
- Since that property is in joint name , then he can transfer his equal right over you after executing a registered Gift deed or Release deed.
- The stamp duty of Git deed is very nominal between family members.
It is nothing but execution of registered sale deed or gift deed to your name, however the stamp duty what you mentioned applies the same for both.
It is advisable that he executes a registered sale deed in your favor insofar as his share in the property is concerned.
Your brother-in-law may relinquish his half-share in the property by executing a deed of relinquishment in your favour which has to be duly registered. Alternatively, he may execute a gift deed. Yes, stamp duty is applicable at the appropriate rate.
