Transfer of Property by Co-Owner

Dear Freinds,

Please advice on the transfer of property by co-owner in the Pvt. Ltd. company where the ownner is haveing the eqaul share holding in the company.

1) is the transfer of property is tentamount to sale.

2) is the transfer attract capital gain on property transfered.

3) what will be the rate of statm duty and registration.

Thanks

Nitin Gangar.

C.A

Daughters right over fathers property with out a will

Dear Sir

I am Asha Dayananda and married during May 1979. My sister got married during June 1988.

My father died during 1989. He left his wife, three sons and two daughters. One of the son is of 1st wife who died long back and others ( 2 sons and 2 daughters) are from the second wife. All the sons and daughters are married.

My father has a property (HOUSE) at Tumkur, Karnataka State, India. This property is self acquired. My father has not made a will. The building has ground and first floor. At present, my younger brother with his family is staying along with my mother. My elder brother with his family is staying in the first floor. The other brother is working and staying at Canada with his family.

My brothers who are staying in the above said house are planning to divide the above said property among them only. They are of the view that the daughters and wife have no rights over the above said property.

Please clarify whether the second wife and daughters have a right/share over the above said property.

What are a daughter’s rights over her father’s self acquired property (house) with out a will ?

Regards

Asha Dayananda

Sale of Car parking slots in Apartments

Dear Seniors, I have a querry on sale of Car parking slots by the flat promoters.

When we purchase an undivided share of land in the transaction of purchasing a flat in an apartment, I presume that we are sold an undivided share of land. Like this, all the owners of the flat should be sold some undivided share of the land on which the apartment is being built.

Logically, if we put together all the undivided share of the land sold, it should tally with the whole of extent of land owned by the flat promoter (subject to certain extent of land statutorily left).

At this stage, now let us assume that I need to have a car parking within the premises. Most of the promoters are selling parking slots to the intending owners at some rates fixed by them.

My doubt here is that when the individal owners have purchased the whole of extent of land (of course each one purchasing some undivided share), how come the promoter sell again a place for consideration.

I understand that the calculation of undivided share includes this area where the car parking is alloted.

If my question is correct, would like the seniors to suggest their reply. If my assumption is wrong, then pleae clarify how the undivided share is being calculated in apartments.

Regards,
Krishnaraj P R
98403 55204

R I Act

Can we seek information from banks and financial institution about our transaction basing on R I Act?

Format of Will

Plz. provide a format (in word) of Will.

F Form

Is it mandatory to provide a copy of Agency Agreement to the Sales Tax Department?

Amalgamation

Can anyone of u plz provide some reading material on Amalgamation.

cheques acquired with out the consent of drawer

DRAFTING A WRIT

Sir,
I have done my LLB from university of allahabad but I have never done any internship. This creates problem in drafting a writ.I accept this forum as my guru please help me by telling the basics of writ drafting.
Your sincerely
Dhirendra

Mortgage

The property was mortgaged by us and registered with subregistrar.We paid the amount and got morgage papers but failed to get same removed from subregistrar office. Now we lost the paper but we do have the postion of property

Now they are claiming the the mortgage is not released and since time is barred they are claiming the property belongs to them
Even they dont have the orginal Mortgage paper

is there a time limit to get the registration cancellation from Subregistrar
I think even the other party has not claimed any money from us and hence Limitation act also applies to him to claim the money

can you please explain the implicaions of the same