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Remove name of my Brother as co-owner of the my home in Delhi

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Remove name of my Brother as co-owner of the my home in Delhi

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  • Remove name of my Brother as co-owner of the my home in Delhi

    Hi,

    We have a DDA house in south Delhi.The house is currently in name of myself and my brother.
    We want to transfer the ownership of house on me.(Single owner)
    My brother agreed for the same.
    We want to change the ownership from joint owners to single owners.

    Can you please let me know the process, any stamp duty charges, etc.

    Regards
  • #2

    #2

    Re : Remove name of my Brother as co-owner of the my home in Delhi

    Do consult a Lawyer who deals in Property matters .


    Also, visit DDA's website for more information .


    http://www.dda.org.in/docs/RESPL.pdf
    Please read IREF rules | FAQ's

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    • #3

      #3

      Re : Remove name of my Brother as co-owner of the my home in Delhi

      Hi Shaurya,

      The process is very simple.

      Your brother's share of 50% in the property, needs to be transferred in your name.

      Get the circle rate from the advocate (private who have their chambers in sub registrars office) or property dealers in your area and calculate the value of the property. Buy non judicial stamp papers based on the stamp duty to be paid for the 50% share, get the papers prepared and both of you go to the sub registrar office with your ids and PAN cards a must and Boom! its done!!!!

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      • #4

        #4

        Re : Remove name of my Brother as co-owner of the my home in Delhi

        Hi Grassik,

        Is there any way, I can do it, witkout paying the stamp duty.
        I guess the stamp duty will cost me alot.


        Regards.

        Comment

        • #5

          #5

          Re : Remove name of my Brother as co-owner of the my home in Delhi

          Originally posted by ShauryaJain View Post
          Hi Grassik,

          Is there any way, I can do it, witkout paying the stamp duty.
          I guess the stamp duty will cost me alot.


          Regards.
          If you want to get the property transfered at minimum cost then your brother can execute gift deed in your favour.... My POV.

          Disclaimer - I may be wrong, kindly do check with your lawyer.

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          • #6

            #6

            Re : Remove name of my Brother as co-owner of the my home in Delhi

            stamp-duty is not optional

            The simplest way is to get a release deed prepared by a deed-writer and pay stamp duty as per the circle rate .The gift deed is also liable for payment of equivalent stamp duty . The alternative is to get a will registered in respect of 50% share provided you are not selling the house in the foreseeable future.
            Do remember to carry Aadhar card to Sub-reg. office

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            • #7

              #7

              Re : Remove name of my Brother as co-owner of the my home in Delhi

              Originally posted by skmongia View Post
              The simplest way is to get a release deed prepared by a deed-writer and pay stamp duty as per the circle rate .The gift deed is also liable for payment of equivalent stamp duty . The alternative is to get a will registered in respect of 50% share provided you are not selling the house in the foreseeable future.
              Do remember to carry Aadhar card to Sub-reg. office

              Yes, this looks to be a decent advice .

              Mongia Ji r u a Lawyer or somehow connected with that fraternity ?
              Please read IREF rules | FAQ's

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              • #8

                #8

                Re : Remove name of my Brother as co-owner of the my home in Delhi

                Originally posted by ShauryaJain View Post
                Hi,

                We have a DDA house in south Delhi.The house is currently in name of myself and my brother.
                We want to transfer the ownership of house on me.(Single owner)
                My brother agreed for the same.
                We want to change the ownership from joint owners to single owners.

                Can you please let me know the process, any stamp duty charges, etc.

                Regards
                My one word answer which surf your question ...... Relinquishment Deed !
                It's a permanent deed done between blood family members & can never be challenged by your brother in future ...as once property given by love and affection can't be Ask back by him or his legal heirs ! It would only cost 1-2% of the circle rate of the property .

                Second cheap and best option .... Memorandum of Family Settlement ..can be done on a plain paper , and don't need registration also

                PS: make sure the drafting of both the above stated documents is done well .

                Comment

                • #9

                  #9

                  Re : Remove name of my Brother as co-owner of the my home in Delhi

                  Originally posted by Norway View Post
                  My one word answer which surf your question ...... Relinquishment Deed !
                  It's a permanent deed done between blood family members & can never be challenged by your brother in future ...as once property given by love and affection can't be Ask back by him or his legal heirs ! It would only cost 1-2% of the circle rate of the property .

                  Second cheap and best option .... Memorandum of Family Settlement ..can be done on a plain paper , and don't need registration also

                  PS: make sure the drafting of both the above stated documents is done well .
                  Relinquishment Deed is operative in case of a legal heir of a deceased , wanting to relinquish his inherited stake.
                  Memorandum of Family Settlement or whatever you may wish to call it and also a Will can be changed anytime during the lifetime.

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                  • #10

                    #10

                    Re : Remove name of my Brother as co-owner of the my home in Delhi

                    Originally posted by MANOJa View Post
                    Yes, this looks to be a decent advice .

                    Mongia Ji r u a Lawyer or somehow connected with that fraternity ?
                    Nice of you to say the appreciating words .I am a stock broker and have had the exposure to family settlement and buying selling properties.

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