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Shares (stock Market) & Property transfer after fathers death
12-May-2023 (In Family Law)
Dear Sir/Madam, Is it compulsory to transfer the title in the name of father to its successor in case if the former dies. I have not transferred the Shares in the name of my father since his death 10 years before. I am enjoying the hefty dividends paid by the company and since I have a joint savings account with my father I can easily encash the dividends which come in his name. Also the land & Building remains to be in his name. Is it necessary to transfer the title??....What if Not Transferred???
If u geting no trouble getting his share then its fine but if u have an apprehension tomorrow someone might claim then i suggest u get it done ur name as u hv survived him as a legal heir.
Regarding immovable property i suggest u get it done in your name using the kin certificate...that way u will be at liberty to sell or have any loan. And also ur kin will inherit the same property.... hence getting it in ur name is the best thing to do
Regarding immovable property i suggest u get it done in your name using the kin certificate...that way u will be at liberty to sell or have any loan. And also ur kin will inherit the same property.... hence getting it in ur name is the best thing to do
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Adv. Abdul Halim
Dibrugarh | 100+ Answers
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I understand from your question that even after death of your father you continue to deposit the dividend warrants in the joint account in which you happen to be one of the operator of account . But what is the type of account ; is it either or survivor ? If so your depositing warrants is in order .But you are prohibited to withdraw any amount after his death.You should immediately intimate you banker about your father's death with death certificate . The banker will ask you about getting a legal heir certificate from court . with that certificate in hand you can seek transfer of shares in your name.
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Adv. GK Gupta
Guwahati | 100+ Answers
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