Legal Question in Real Estate Law in India

Hi,

My husband and I are going thro divorce by mutual consent. We are in the processing of dividing and settling things amicably between us. We have a house that is under housing loan, note that I am a co-applicant of the loan. My name does not appear in the sale deed etc. It only appears in the load document. We would like to include my name in the sale deed too, but we do not know how to go about it and will it be a tedious and would require too much money for the inclusion of my name in the property documents. I found out that mortaged property cannot be transferred. I also learnt that there is something called irrevocable deed wherein we can put into writing whatever we have verbally settled for. For instance, in our case, we would continue paying the housing loan 50:50 and when we decide to sell the property, we would like to have it divided one-third. Pls note that we have a son aged 6 and we have decided that he has to get his share. Kindly advise if we can go in for this irrevocable deed, if so is it safe and strong... or should we go thro the process of adding my name in the property document. and kindly advise if there are any other better options to settle this without any future hassles.


Asked on 12/16/10, 11:10 pm

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Where husband is sold owner as per the property document and where you intend to become half or 50% owner, it is necessary that same must be done by a registered document.

Nature and manner of document should be as per the advise of your lawyer in know of all the facts and details of the matter.

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Answered on 6/03/11, 3:21 am


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