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What is a greencard in relation to ownership of land?
Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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Tokyo wrote: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. Makes sense. Good luck with it.
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Rank: Member Joined: 6/25/2009 Posts: 41
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simply allocate one share to your dad,Then have him transfer the land to toe company.
This will assist you manage your tax liabilities
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Rank: Veteran Joined: 10/9/2006 Posts: 1,502
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Jibabe wrote:simply allocate one share to your dad,Then have him transfer the land to toe company.
This will assist you manage your tax liabilities  Perfect. This will deal with transfer and taxes which will be a decent figure work to prosper
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What is a greencard in relation to ownership of land?
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