Legal procedure to transfer shop to son with all relevant documents.
04-Nov-2023 (In Documentation Law)
i have a shop .i want to make such documents so that my son do not face any problem after me.
Assuming that there might be other legal heirs (e.g. wife) after your demise,
In such case, there are three possible ways-
You can gift the shop room to your only son (or preferred heir) by executing and registering a Deed of Gift.
OR
You can also execute and register a Settlement Deed but Stamp Duty cost will be much higher.
OR
You can execute a Will.
Considering all aspects, Gift will be the safest and hassle-free option.
In such case, there are three possible ways-
You can gift the shop room to your only son (or preferred heir) by executing and registering a Deed of Gift.
OR
You can also execute and register a Settlement Deed but Stamp Duty cost will be much higher.
OR
You can execute a Will.
Considering all aspects, Gift will be the safest and hassle-free option.
Sir
Taking that you have legal title over the shop.
You have to consider 2 options :-1. To transfer the shop absolutely during your life time and 2. To make the transfer effected after your death.
For the 1st you require to make gift feed and for the second you require to make will, it is better to get the will registered.
Thanks
Taking that you have legal title over the shop.
You have to consider 2 options :-1. To transfer the shop absolutely during your life time and 2. To make the transfer effected after your death.
For the 1st you require to make gift feed and for the second you require to make will, it is better to get the will registered.
Thanks
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