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Property registration with Pvt LTD company
15-Nov-2023 (In Property Law)
Hi, My brother owns a plot of land in his name. Both of us and one of our cousin are planning to build a commercial building here. Our individual share after construction on the plot, building, assets there would be like 50%( my brother) 30% (me) 20% (cousin) . So can we form a private limited company with the above share percentage and register the plot with the Pvt LTD company ? Is there any other option where we can 100% safegaurd individual share on the property without any legal challenges in future or any dispute in future . Thanks in advance.
You can register yourself as a Pvt. Ltd. Company with the registrar of companies and keep the number of members( shareholders ) of the company limited to three people that is you, your brother and your cousin. In this case only you three people will remain fit to buy the equity and other public cannot buy these shares. But in this way you will have the right over the dividend that you get from your shares as the assets of the company will be separate as it would be a separate legal entity.
However, if register as a partnership firm under the Indian partnership act you will have a right over your share of contribution in the assets of the firm and the profit that the firm makes proportionately.
However, if register as a partnership firm under the Indian partnership act you will have a right over your share of contribution in the assets of the firm and the profit that the firm makes proportionately.
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Adv. Samyak Raj
Delhi | 500+ Answers
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