Advocate Bankim Mehta

Questions Answered by Advocate Bankim Mehta (200+ answers)

Q: How to transfer property from father to son ?

how to transfer property from father to son before death, what is the procedure to transfer property from father to son? , Is other relative have right to claim it

Advocate Bankim Mehta answered
If your father is alive, then you can execute Gift Deed and transfer property in your name after registering the same and also post name get your name on all the land records with different authorities. And if your father is not alive then if he has left his WILL behind then you can apply for probate and transfer the property as per the WILL and if there is no WILL then you have to take Administrative Order from the Court.

Q: Is it compulsory to change surname after marriage ?

I have been married for 6 months....it was an arrange marriage and we have not applied for marriage certificate yet.....I don't want to use my husbands name...what shoud i do??? is it mandatory to change surname after marriage ?

Advocate Bankim Mehta answered
Women / Men are free to use any name they want. India is a democracy and what name a person should use is his / her fundamental right. No law / person can take that away. Changing your name / surname post marriage therefore, is a choice. It is customary. Not legally binding.

Q: Is 35 years old agreement valid when the seller died 22 years ago

My grand father done one development aggrnemt with on of developer 35 years back and grandfather passed away 22 years back and now he is asking to do new aggrnmet with old rate and we as a family member now we don't want give our land to that developer. After development he has not done any development on that land. Is their their old development aggrnment will work for today's work can he start doing construction on that same land with out heriterty permission?

Advocate Bankim Mehta answered
We will require to study the terms on which the agreement was executed, until then it will be inappropriate to reply. What arrangements were agreed between your father and the developer needs to be thoroughly scrutinised in order to guide you in a right direction, cause it is a matter of 35 or 22 years old.

Q: Does registration get cancelled if buyer could not make payment

I sold out my flat in 30.5 lacs in which buyer paid me 14.5 lac. rest 16 lacs will be paid by bank as he has requested for home loan and after issuing the sanction letter we have registered the flat and mention the clause in agreement within one month the bank will disburse the balance amount to me. Now bank is saying they stopped funding new case and disbursement is closed now. what should I do now?

Advocate Bankim Mehta answered
It will be the responsibility of the buyer of the flat to pay you the balance or arrange for the same by applying to the other Bank. If he does not make you payment, then you can file suit for against the buyer for recover of balance amount or cancellation of agreement or for eviction.

Q: Should company equity be divided with silent partners

I had an idea and approached a friend. He advised me to make the product more technical and since one year both of us have been preparing the product. Now the product is ready. He recently told me he would not be coming back from Germany now. Now that the product is ready its all upto me to find funding, execute, expand and everything from now on. His job would be limited to product refinement and upgradation if required and would be further zero after we hire a tech team. We are discussing how much equity should we both share? As he developed the product and has stepped aside. Should he be given equal equity as me who will life long be working on the project?

Advocate Bankim Mehta answered
Without him you would not have been able to develop a product and further until you find a tech person he will also help in refining the product. But I understand that subsequent to that he will have no role to play and all other and further efforts will be done by you for sustenance and making it successful. So as far as to issue him equity shares many parameters requires to be considered so that even the other founding partner be rewarded appropriately. Though this is a commercial call which you have to take, taking into confidence your other partner. What I feel could be reasonable will anywhere between 20-30% shares. But then you need to decide whether to issue 10% or 20% or 30% or 40% etc.