Property law - matrimony - divorce
5 months ago
I purchased a property in 2021 from the funds recieved from gratuity but transaction was done through joint account .later we were divorced and she denied to execute a relinquish deed. What can be done
A.Dear Client,
The source of fund matters the most when a property is bought in your name using the fund received on account of retirement of gratuity even if the transaction is made from a joint account. A property bought by a fund generated from retirement gratuity is considered as self-acquired property and the owner of the said property has an unfettered right to dispose of the said property as per his choice. Now it becomes mandatory to receive a pension through a joint account to be opened in the pension disbursing Bank along with the spouse for smooth disbursement of pension to retired employees and after their demise to their widow or widower. Since it is your self-acquired property and not co-owned by your spouse, you need not have a release or relinquishment deed to dispose of the said property. Get the property mutated in your name and dispose of the property as you wish. The mere holding of a bank account in joint name does confer any right to a spouse to claim a share in the property after cessation of the relationship by virtue of a decree of divorce.
The source of fund matters the most when a property is bought in your name using the fund received on account of retirement of gratuity even if the transaction is made from a joint account. A property bought by a fund generated from retirement gratuity is considered as self-acquired property and the owner of the said property has an unfettered right to dispose of the said property as per his choice. Now it becomes mandatory to receive a pension through a joint account to be opened in the pension disbursing Bank along with the spouse for smooth disbursement of pension to retired employees and after their demise to their widow or widower. Since it is your self-acquired property and not co-owned by your spouse, you need not have a release or relinquishment deed to dispose of the said property. Get the property mutated in your name and dispose of the property as you wish. The mere holding of a bank account in joint name does confer any right to a spouse to claim a share in the property after cessation of the relationship by virtue of a decree of divorce.
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A.Dear Client,
In this situation, it's important to consult with a legal professional to explore potential solutions. Since the property transaction was facilitated through a joint account and you are now facing difficulties obtaining a relinquish deed from your ex-spouse after the divorce, legal avenues may be pursued. Your lawyer can assess the specific circumstances, review relevant documentation, and guide you on the appropriate legal steps. This may include filing a petition in court to compel the execution of the relinquish deed or exploring other legal remedies to establish your sole ownership of the property. Timely legal intervention is crucial to address this matter and protect your interests in the property acquired through funds from your gratuity.
In this situation, it's important to consult with a legal professional to explore potential solutions. Since the property transaction was facilitated through a joint account and you are now facing difficulties obtaining a relinquish deed from your ex-spouse after the divorce, legal avenues may be pursued. Your lawyer can assess the specific circumstances, review relevant documentation, and guide you on the appropriate legal steps. This may include filing a petition in court to compel the execution of the relinquish deed or exploring other legal remedies to establish your sole ownership of the property. Timely legal intervention is crucial to address this matter and protect your interests in the property acquired through funds from your gratuity.
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