Legal Question in Real Estate Law in India

Sir

No right, title or interest in immovable property can be created, transferred, extinguished, released, without a registered instrument, which is subject to payment of Applicable Stamp Duty under Gujarat Stamp Act.

Under Gujarat Stamp Act, release of right in an immovable property, unless such property is ancestral, is subject to payment of full stamp duty as applicable to conveyance i.e. @ 4.9% + 1% Registration fees upon the market value of the share sought to be released.

Again, gift is also subject to payment of same registration and stamp duty.

What you can do is, get an release deed and Affidavit - Cum - Declaration notarized on a 20 Rs. stamp papers and get it notarized, and based on the that let your wife file an application for removing your name from the Property Card, and Government Record. Based on that, they government office will remove your name. So on government Record, you wont be shown as owners, but legally, you would continue to hold the title in the property, as there is no registered release deed.

Should you have any questions, then feel free to ask. I am based in Ahmedabad, Gujarat.

Regards

Vivek N Mapara

www.vnmlaws.com

+91-9426482371

[email protected]