Hello,
I have an office at Colaba, Mumbai under Pagri system.
The office was acquired before 30 years jointly by my Uncle (real) and Father for business purpose. My uncle being elder, out of respect, his name was enrolled with Landlord. My uncles name appears on all the rent receipts as well.
Now my uncle is not in good health and wants to retire and handover all the business and property to my father with his sole ownership. He is also ready to sign any papers and inform landlord about change in name.
Now hearing this, Landlord is asking for 30% value of the property to change the name and other formalities in my dads favor. This amount is unreasonably high.
My uncle has a SON in Australia and will settle there and even he is okay with his fathers decision.
Question:
- can landlord legally ask for money when transfer is within family (blood relation)?
- Can there be any legal issues if my father continues to do his business in the same property?
- Can there be any legal issues if my father continues to do his business in the same property?
- what steps can we take to safeguard ourselves if landlord choses a legal action?
Edit:
I read somewhere in this form that creating some documents will help me obtain Legal title status on the property without paying unreasonably high amount to landlord. Are the following paper work enough?
1. Family Settlement Deed
2. Gift Deed
3. Declaration (Notarized)
Thank You.
Pratik.
