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I own a property where my husband is listed as a co-owner purely out of goodwill. He did not contribute financially to the property or share any household expenses. He currently has large outstanding debts with multiple institutions, and this property is the only asset in his name. I am planning to file for mutual divorce after executing a release deed. Which is more appropriate in this situation: a release deed or a relinquishment deed without monetary consideration? I want to ensure no financial institution can claim this asset in the future. He is not giving up his share out of affection or as part of the divorce settlement. In which deed can I clearly mention that he made no financial contribution?
In your case, a relinquishment deed is appropriate. It allows your husband to voluntarily give up his share in the property, acknowledging he has not contributed financially. This deed should be registered and can include a clause stating his non-contribution to avoid future claims. For further legal assistance contact us on our helpline number.