I’m going to divorce and the house is in both our names. My husband is giving the house to me. How do we go about having it put in my name only?

****RELEASE DEED****

You and your husband jointly own a property called Joint Property. Now, your husband wants to eliminate from the joint property and release his share to you, so you become 100% shareowner of the property.

To acquire 100% ownership, you and your husband must register a RELEASE DEED.

In a Release Deed, your husband is a Releasor, and you are a Releasee. To register a Release Deed, we need the following:

• Registered Deed (that you and your husband jointly acquired the property)
• Property tax receipt
• eKhata
• Husband and wife’s Aadhaar
• Release Deed draft printed and signed (to be registered)
• Two witnesses and their Aadhar

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The Stamp Duty for release deed registration is Rs. 5000 and the registration fee is Rs. 1000

The total cost including cess and scanning fee totals around Rs. 7000/-

Register the Release Deed in a sub-registrar office. You, your husband, and two witnesses' presence are mandatory in sub-registrar office for registration. The registered Release Deed looks like the below image

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To remove your husband from the joint loan account, follow the below steps:

Novation: Contact your bank and request for novation. Novation is a declaration that transfers the home loan from joint applicants to single applicant. Your bank will provide the novation format

Proof of removal: Provide proof to bank why you want to remove your husband from joint loan account, proof such as divorce agreement

Proof of Income: Provide income proof to bank like salary slip or bank statement because you should prove your ability to repay the loan without co-borrower financial contribution or you can onboard another co-borrower to support your financial capability

Submit the following documents to the bank

• Novation
• Original Release Deed (that your husband released his share to you)
• Copy of Divorce Agreement
• Income proof

The bank will remove your husband from loan account

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It's important to remove your husband from joint loan account because after few years, once you repay the home loan, the bank will issue Discharge Deed in the name of loan applicants. In your case, the loan applicants are you and your husband. The loan applicant must register the Discharge Deed in registrar office to claim ownership from bank. Since you are separating from your husband, you should remove your husband from joint loan account so the bank will issue a Discharge Deed only in your name at the time of closing home loan. (if you didn’t remove your husband from the joint loan account, the bank would include your husband's name in discharge deed and he must present for lien removal in sub-registrar office)

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For consultation, please Whatsapp to +91-97424-79020

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