Hello Mam/Sir,
I am constructing a three storied commericial shopping complex in a plot of land. The full ownership of land is in my name. I would like to provide the ownership of each floors of the building (ownership of the building only, but not the land) to my children. Can you please advice the legal implecations?
1) Is it a valid transaction by transfering ownership of one floor only (without the land ownership where building sits)?
2) Should I do the ownership transfer berfore applying the new building number from the city?
3) What would be long term implication, if I want to sell the land?
Thanks in advance for your support