Dear Sir, I am a 42 years old lady, I owned a 2BHK house and have taken Bank loan for the same in the joint name with my husband. I am the 1st owner and my husband is the 2nd owner. Its a joint property. All the property payment has been done by me including monthly EMIs, maintenance, electricity etc. I would like to know in case of any dispute with my husband whether he is legally a co-owner of my flat? Await your advice.
1) yes your husband is co owner of the said flat .
2) the agreement for purchase of flat was entered into in joint names .
3) share certifcate reflects name of both co owners of the flat .
4) in the vent of any disputes your husband will claim his 50%share in said flat
Thank you sir. What is the procedure if I have to make him 100% owner of the flat ?
you can execute gift deed in his favour . have it duly stamped and registered .
in the alternative execute relinquishment deed
Yes, both of you are joint-owners of the property and either of you can become its absolute property if any of you transfer your half share to the other.
1. Yes, both of you have equal share in the said flat,
2. You can execute and register a Gift Deed in favour of your husband conveying the title of your share in the said property to make him the sole title holder of it,
3. The above step of gifting is conversely applicable on your husband also.
1. Your husband is a co-owner of this flat.Since the agreement has been registered jointly in your names both of you have an equal share in this flat.
2. In the event any dispute breaks out you and your husband will be able to enforce your ownership rights in the flat.
If you wish to make him the owner of the entire flat then you may make a gift deed of your 50% share in his favour, whereafter he will assume ownership of the entire flat and become the absolute owner thereof.