My wife and I own a property in Bangalore in equal partnership. She is an Indian-born, UK citizen while I'm an Indian-born, Indian citizen. We both reside in the UK. I would like to gift my 50% share to her. How do I go about this? Does anything change because of the residential status? can I get my share to her? Does any procedure change because of these circumstances and position?






You can register the “Release Deed” to transfer 50% of your share to your wife so your wife becomes 100% shareholder of a property.

Release Deed registration proedure is same for local resident and overseas resident. Both Releasor & Releasee (you and your wife) must present in sub-registrar office to register release deed or can give power of Attorney to regiter on your behalf. In a seperate, we wrote the detailed procedure to give Power of attorney, here is the link to the answer https://www.tesz.in/ask/how-can-i-execute-a-power-of-attorney-deed-in-united-kingdom-for-using-it-in-india-nc30008

------

Below is the detailed procedure to register the Release Deed, we gave the below procedure with real example

Husband and wife jointly purchased a 2BHK flat from a builder in Bangalore. It means that husband owns 50% share and wife owns 50% share of a property.

Now husband wants to release 50% of his share to his wife so we executed below Release Deed.

Documents Require for Release Deed Registration:

  • Registered sale deed (of husband & wife purchased from builder)
  • Current financial Tax paid receipt
  • Khata certificate
  • Aadhar of Releasor & Releasee (This is not applicable for NRI)
  • PAN of Releasor & Releasee

Draft: Prepared the Release Deed Draft in word file. The draft looks like below images

 

Government charges: 

Below are the government charges for Release deed registration in  Karnataka

  • Stamp Duty: Rs. 5000
  • Registration fee Rs. 1000
  • Scanning Fee Rs, 520 (approx)
  • Affidavit: Rs. 60

Below is the payment receipt (K2 Challan)

 

We carried the below documents to Sarjapur Sub-registrar office to register the Release deed

  • Registered sale deed (of husband & wife purchased from builder)
  • Current financial Tax paid receipt
  • Khata certificate
  • Aadhar of Releasor & Releasee (Not applicable for NRI)
  • PAN of Releasor & Releasee
  • Printed Release Deed on Document paper
  • Government charge receipt (K2 Challan )

The sub-registrar officer verified the above documents and approved for registration.

The registering officer asked the Releasor & Releasee to sit at the registration counter. The officer took the photo from webcam, biometric thumb impression, OTP authentication of Releasor & Releasee.

Releasor, Releasee and two witnesses signed the Release Deed. Below is the image of Registered Release Deed,

 

This completes the procedure to release your share to co-owner. 

---------------

In Bangalore, we provide end to end assistance to register Release Deed. To opt for our service, please Whatsapp to + 9 1 - 9 7 4 2 4 7 9 0 2 0.

Thank you for reading…

How would you rate the answer?


Excellent Good Neutral Poor Bad

Thank you for your response..