Legal Question in Business Law in India
my uncle own a factory in mumbai. he passed away in 2007 later his wife was running the factory till 2014 even she passed away and my uncles had no children and his mother and sister are planning to run the company as they become the legal heir. since we have filled a legal/ succession certificate from court. since it will take time to obtain the certificate till then we are planning to continue the business so to do that what documents is required to transfer the owner to my uncle's sister and mother. so that they can run the factory till the succession/legal heir certificate is obtained form court (the property is at mumbai)
1 Answer from Attorneys
02.07.2014
Dear Sir / Madam,
The Succession Certificate is the only document for transfer of the business ownership. Till that time, the legal heirs will have to continue business on behalf of the deceased Owner.
Regards,
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