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Malaika News   03 June 2024

Transfer of property from an individual to a proprietorship firm

SIR,

HOW DO I TRANSFER MY PROPERTY SHARES  FROM AN INDIVIDUAL TO A PROPRIETORSHIP FIRM IF I AM ONE OF THE SHAREHOLDERS IN A IMMOVABLE PROPERTY AND THE PROPREETORSHIP FIRM IS MINE.

IS A GIFT DEED OR TRANSFER AGREEMENT TO BE DONE.

THANKYOU.



Learning

 3 Replies

T. Kalaiselvan, Advocate (Advocate)     04 June 2024

Firstly you acquire the property to your name and ensure the ownership with clear and marketable title to the property on your name. 

A sole proprietorship is a non-registered, unincorporated business run solely by one individual proprietor with no distinction between the business and the owner. 

Therefore there's no necessity to transfer it to the firm's name 

1 Like

Dr. J C Vashista (Advocate )     04 June 2024

There is no distinction between a propertorship firm and owner of property.

No document is required for transfer of property in the name of firm.

Malaika News   05 June 2024

Sir,

there is a reason for the transfer of shares, kindly guide how to do it.

is a transfer deed or gift deed ok?

yes, the property shares is on my name-33 percent.


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