Rajesh Kumar Agrawal
29 July 2017 at 14:19
1) A Land is purchased and registered with the Registrar of Assurances in the name of A,B and C, in 2007.
2) The above Land was transferred in the name of a Company XYZ Pvt Ltd.,in which all A, B and C are the Directors, in FY 2009-2010
3) The Company issued Equity Shares to the Directors A, B and C in FY 2009-2010 on account of sale consideration of the Land. The Land was not registered with the Registrar of Assurances in the name of the Company at that time .
4) In FY 2010-2011, the Company erected a factory building on the above Land.
5) Land and Building, both are now reflected in the Books Of Accounts of XYZ Pvt Ltd., since FY 2010-2011.
6) Now, Can the Directors, (A, B and C) of the Company i.e., who happen to be the owners of the Land in the record of registrar of Assurances and state land revenue records, (as the land was registered in their name with Registrar of Assurances) NOMINATE the Company XYZ Pvt Ltd. to sell the land.
7) Building will be sold by the Company.
The obvious answer would be to pass a resolution and get the land registered in the name of the Company, but if this is done then in order to sell the land and building to a third party say P , these will have to be registered again by the Company (XYZ & Co Pvt Ltd), thereby incurring
-the cost of stamp duty and registration once for registering the land in the name of the Company, by the Directors
and again
- The cost of registration and stamp duty of land together with building when it is being registered by the Company for sale to a third party (P).
So, the Question IS HOW THE INCIDENCE OF COST OF REGISTRATION CHARGES AND STAMP DUTY BEING INCURRED TWICE FOR THE SAME PROPERTY BE AVOIDED AND COULD BE INCURRED ONLY ONCE . CAN THE DIRECTORS (A,B & C) NOMINATE THE COMPANY TO SELL THE LAND AND THE SALE DEED BE PREPARED ACCORDINGLY.
Your answer is eagerly awaited.
Thanks and regards
Rajesh Kumar Agarawal
Brigu Kumar
29 July 2017 at 12:06
High Court has granted Probate for the Will of a property but Partition Suit is pending in City Civil Court for same property. Is it possible to have Right, Title and Interest in the said property at this stage? If not, what should be done? What is required to have name of Beneficiary included in the Title of the property and within how much time?
sakthi
29 July 2017 at 11:54
Respected Experts, My friend & his spouse is convicted to undergo imprisonment for 2 years. There seems to be some difficulties in approaching the high court inclusive of engaging advocate and its expenditure. My friend is ready to undergo the sentence. They were having one spastic child who is 100% dependent for all his basic needs. If both are imprisoned, the child may be left without care which even endanger the life of child. Is there any remedy to undergo the imprisonment one by one so that any one parent may take care of the spastic child. Any precedent is available in the matter? Whether they have to approach the trial court itself for remedy or the high court for the remedy? Advance thanks for your valuable guidance please.
Helan
29 July 2017 at 11:38
I need a lawyer is Salem tamilnadu can someone suggest
bikkrambhandari8088
29 July 2017 at 11:07
Drear ,
Respected experts, i have an query , can a house wife who had not any source of income , a property on her name , then can she transfer or sell that property? And by law is she absolute owner of that property? The property is now on her name according to deed and mutation.
DV victimmmm
29 July 2017 at 09:35
Respected experts,
This query is for one of my friend's father. The details are as follow:
The person is 47 year old.His mother dies when he was 5 years old and his father remarried.
The person did not stay with the step mother and was raised by his maternal uncle.
The step mother had 2 sons and 2 daughters from her marriage with his father.
After the death of her husband , she is staying with one of her daughter.
Now she has filed a maintenance case against her 2 sons and the step son.
Her husband is no more right now and the person in question did not inherit any property from the father.
The other 2 sons have inherited property from their father.
My queries are :
1. can she file a case against step son whom she did not raise and has no relation since so many years when she has her own sons who are earning well.
2. Can she file the case from the city where she is currently residing.
Please respond to the query and please provide with citation references if there are any.
Thanks in advance for your valuable inputs.
Anonymous
29 July 2017 at 08:53
A grandfather wrote a gift deed (unconditional) for a self acquired property favouring his granddaughter when she was a minor. The gift deed was duly registered.The grandfather is not now alive. There is perfect understanding in the family and the granddaughter( now married) is willing to get the gift deed cancelled.As the donor is now not alive, can the donee and the legal heirs of the deceased grandfather cancel the gift deed through a properly drafted cancellation deed and get it registered? The family would prefer this mode of cancellation rather than the granddaughter gifting it back to the legal heirs of the deceased, in this case father,grandmother and aunt.
Dhaval R
29 July 2017 at 08:51
Our building is in 12.5% gaothan scheme in Seawoods, Navi Mumbai. 50% of flats are owned by the land owner. Builder is ready to cooperate but he won't pay any charges. Labd owner is not cooperating at all. We are applying for Society formation without the Land owner.
Now, after Society is formed how can we go for Triparty agreement if the Land owner is not cooperating? If we decide to pay all the charges, then what would be the cost?
gk
29 July 2017 at 01:37
Respected Peers,
Pranam!
Is it mandatory to transfer the Patta to my name, after buying that property / registering the property in my name. Or registration sale deed is enough for further any future reference? Please be requested to be clarified.
Thanks
Regards
Krishnan.
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In regards to transfer of zamindari property.
My father took care of a woman in her old ages for 10 years till her death . Humbled by the care that my dad took of her She that of her son , she willed her entire zamindari Property equally to her son and my father in the year 2000. A year after in 2001 she died. Some 5 years after her Son died of mental illness. My dad took to local TEHSIL n the year 2012 to get the property transferred to his name. But just then ,the Woman's daughter objected the transfer ( or someone unknown on her behalf did that fakely) despite the fact that her mother named nothing to her daughter who appeared all of a sudden . 2 years of hearing at local TEHSIL , the Lekhpal filed his report in our favor as no one appeared from the opposition party even for a single hearing. Also we produced all proofs (latest will) , witnesses and thus it appeared an open shut case to us. Though all these positive developments the TEHSILDAAR , said it was out of his authority to transfer the property under my dad's name . So he transferred it to SDM office. The SDM conducted his own inquiry and factfindings . Still no one appeared from the opposition party , hence The Government lawyer filed his report in my Dad's favor. Now besides all these developments the SDM is reluctant to transfer the property in my father's name . Every day my father who is sick health wise and exhausted mentally goes to the SDM office who simply assures my dad that he will do it but does nothing. Asks my father to come next day and when he visits the office most of the times SDM was absent or gives the false assurance. My dad spent all his savings on the case . Paying the lawyers who now seems knew nothing and were just fooling my dad. SDM . We aren't well off economically and most of our money is spent on mine and other 3 of my sibling's education. We clearly have a hint that the SDM expects a huge bribe from us, but we cant do that. So how can we get this thing done. 2.) How strong is our case? 3.) Does Zamindari Abolishment has anything to do with it and can that prevent us from getting our work done. 3.) What can we do if SDM is not doing what he is supposed to do in this case. Hope , someone would help us out with his knowledge.
Thank You.