What is the procedure to delete the co-owner of property ?

Q: I am a resident in Mumbai, where the property is owned by three owners, say A, B and C.I would like to know the procedure to delete the co - owner A (myself) or change the order to B,C and A (it is established by a registered deed). By cancellation the remaining owners can apply for nomination in name of A as 100% . Please guide so i can do the needful legally and thereafter face no issues.Note: A,B and C are all relatives - members of the same family A - Myself(son)B - FatherC- Mother

gaurang.mehta,

16th January 2012

Legal in Mumbai

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Hello Gaurang, I advice you to discuss the matter with your legal expert, he will guide you as how to execute gift deed or release deed. Even he will only tell you what will be the expenses for the whole process.

Sanjana Jain, Mumbai

18th January 2012

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sure and thanks !!

gaurang.mehta,

18th January 2012

Execute a gift deed or release deed so that your parents will be the co-owners for the property and they can make a deed or will that you will be nominee for the property after their lifetime or death. I feel this will be simple thing you can do legally and thereafter face no issues. Before you proceed, seek legal expert opinion and also communiicate with your Bank for clear idea on Home loan if any.

Sanjana Jain, Mumbai

17th January 2012

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