Legal Question in Real Estate Law in India

If the share value is above 1 lakh then succession certificate is required that is what I have been told. Now their could be many heirs but we want the shares to be transfered on only one or two names. What is the procedure. There is no despute in the family.


Asked on 4/02/11, 7:02 am

2 Answers from Attorneys
Vishwa Arya Arya & Co.

since there is no dispute, you may give an affidavit giving the names of all the legal heirs of the deceased share holder. Second, affidavit cum no objection of the legal heirs in favour of the legal heir in whose name the shares are now required to be transferred. Thirdly, an indemnity bond from the legal heirs in whose name the shares are now being transferred. All these collectively will be good enough for the share transfer. Some companies have their set language for transfer on the basis of affidavit + indemnity bond.

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Answered on 4/02/11, 7:09 am
Sanjay Kalra Sanjay Kalra & Associates

I second this opinion.

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Answered on 4/02/11, 10:42 am


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