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What is a greencard in relation to ownership of land?
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Gathige
#31 Posted : Wednesday, September 11, 2019 1:28:12 AM
Rank: Elder

Joined: 3/29/2011
Posts: 2,242
sparkly wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Sounds like a money laundering scheme.



Sounds a very complex transaction between a father and a son.
"Things that matter most must never be at the mercy of things that matter least." Goethe
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Tokyo
#32 Posted : Wednesday, September 11, 2019 9:13:15 AM
Rank: Veteran

Joined: 10/9/2006
Posts: 1,502
sparkly wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Sounds like a money laundering scheme.


A sudden good deal while I was not physically able to be there.
work to prosper
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kawi254
#33 Posted : Wednesday, September 11, 2019 9:37:56 AM
Rank: Member

Joined: 2/20/2015
Posts: 468
Location: Nairobi
Tokyo wrote:
sparkly wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Sounds like a money laundering scheme.


A sudden good deal while I was not physically able to be there.


Make haste. Under inheritance law it can get messy and you end up sharing that land with your siblings. Hopefully you also have proof of money you sent to your father to buy the land so that it cannot be contested that it was a gift from your Father.
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NewMoney
#34 Posted : Wednesday, September 11, 2019 12:21:08 PM
Rank: Member

Joined: 3/1/2019
Posts: 170
Location: Nairobi
kawi254 wrote:
Tokyo wrote:
sparkly wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Sounds like a money laundering scheme.


A sudden good deal while I was not physically able to be there.


Make haste. Under inheritance law it can get messy and you end up sharing that land with your siblings. Hopefully you also have proof of money you sent to your father to buy the land so that it cannot be contested that it was a gift from your Father.


I am no lawyer but I think they should be able to do a regular conveyancing buyer-selller agreement without any money exchanging hands as long as it is stated in the agreement why so. Am sure if the OP checks with a lawyer they will get a simple solution since there are no conflicts in the deal
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wukan
#35 Posted : Wednesday, September 11, 2019 2:06:13 PM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,658
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


if you avoid the 50 bob-per-stamp lawyers that wazuans fancy you can get one who will get you stamp duty exemption and get you the transfer to a company.
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MugundaMan
#36 Posted : Wednesday, September 11, 2019 2:23:58 PM
Rank: Elder

Joined: 1/8/2018
Posts: 2,212
Location: DC (Dustbowl County)
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Why did you register in your father's name to begin with. Ulikuwa unataka kuficha assets? Or avoiding ushuru?

It will be exempted from stamp duty if daddy is one of the co-owners of the company. If not, ushuru utalipa my buloddah. Process is just the same as any other land transfer between two parties IMHO.
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Kusadikika
#37 Posted : Wednesday, September 11, 2019 5:27:42 PM
Rank: Elder

Joined: 7/22/2008
Posts: 2,723
NewMoney wrote:
kawi254 wrote:
Tokyo wrote:
sparkly wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Sounds like a money laundering scheme.


A sudden good deal while I was not physically able to be there.


Make haste. Under inheritance law it can get messy and you end up sharing that land with your siblings. Hopefully you also have proof of money you sent to your father to buy the land so that it cannot be contested that it was a gift from your Father.


I am no lawyer but I think they should be able to do a regular conveyancing buyer-selller agreement without any money exchanging hands as long as it is stated in the agreement why so. Am sure if the OP checks with a lawyer they will get a simple solution since there are no conflicts in the deal


Until Tokyo discovers that his dad has another wife who he did not know aboutsmile smile I think wives have to sign that the property is not matrimonial property before a transfer can be effected or if it is matrimonial that they are OK with everything......or does this only apply to the property the family is residing in?
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  | | Edit by user: Wednesday, September 11, 2019 5:33 PM | Reason: Not specified
hardwood
#38 Posted : Wednesday, September 11, 2019 5:38:34 PM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Kusadikika wrote:
NewMoney wrote:
kawi254 wrote:
Tokyo wrote:
sparkly wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Sounds like a money laundering scheme.


A sudden good deal while I was not physically able to be there.


Make haste. Under inheritance law it can get messy and you end up sharing that land with your siblings. Hopefully you also have proof of money you sent to your father to buy the land so that it cannot be contested that it was a gift from your Father.


I am no lawyer but I think they should be able to do a regular conveyancing buyer-selller agreement without any money exchanging hands as long as it is stated in the agreement why so. Am sure if the OP checks with a lawyer they will get a simple solution since there are no conflicts in the deal


Until Tokyo discovers that his dad has another wife who he did not know aboutsmile smile I think wives have to sign that the property is not matrimonial property before a transfer can be effected or if it is matrimonial that they are OK with everything......or does this only apply to the property the family is residing in?


Valuation will also be done and stamp duty paid.
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Angelica _ann
#39 Posted : Wednesday, September 11, 2019 6:25:37 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,937
wukan wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


if you avoid the 50 bob-per-stamp lawyers that wazuans fancy you can get one who will get you stamp duty exemption and get you the transfer to a company.


Life is never a straight line and that serious. That was for a specific thing and which doesn't even make sense to the many persons out to salvage the little left of their investments. If you see the place, that lawyer is actually doing CSR work to the clients.

Of course the guy will charge you the normal fees when it comes to 'real' transactions.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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  | | Edit by user: Wednesday, September 11, 2019 6:48 PM | Reason: Not specified
Tokyo
#40 Posted : Thursday, September 12, 2019 12:20:46 AM
Rank: Veteran

Joined: 10/9/2006
Posts: 1,502
MugundaMan wrote:
Tokyo wrote:
I bought land and registered under my father’s name.
Currently ,legal Ownership is my father while I financed.
He want now to transfer to me.
What’s the process and requirements of transferring land from
a parent to a company wholly owned by one of the Sons?


Why did you register in your father's name to begin with. Ulikuwa unataka kuficha assets? Or avoiding ushuru?

It will be exempted from stamp duty if daddy is one of the co-owners of the company. If not, ushuru utalipa my buloddah. Process is just the same as any other land transfer between two parties IMHO.


The seller had an urgent issue where he was willing to sell a prime land at a throw years ago . The deal was good. I happened to be overseas. It’s very common especially with Diaspora community. Nothing sinister.
work to prosper
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