Transfer of Name in Share certificate
3 months ago
The Tenament is in name of mother. She had made a registered Will to transfer the tenement in favor of her youngest son. Now she has expired. Does NOC/Release deed required from her other 2 sons before transfer of name in Share certificate?
A.Dear Client,
In the case of testamentary succession, the wishes of the testator will prevail. Therefore, until and unless a will becomes enforceable through probate, no NOC or release deed from legal heirs is required. The shares may form part of a specific legacy or fall into the residue of the estate. Either way, the representatives of the estate need to contact the company to initiate the transfer of shares of the deceased shareholder.. The PRs(Probat Representativ) should approach the company with a grant of probate or letters of administration issued by the Court. The legal heirs of the deceased need to submit the transmission form along with a notarized copy of the death certificate, Ofiginal registered Will along with a grant of probate or letters of administration issued by the Court for the transfer of shares.
In the case of testamentary succession, the wishes of the testator will prevail. Therefore, until and unless a will becomes enforceable through probate, no NOC or release deed from legal heirs is required. The shares may form part of a specific legacy or fall into the residue of the estate. Either way, the representatives of the estate need to contact the company to initiate the transfer of shares of the deceased shareholder.. The PRs(Probat Representativ) should approach the company with a grant of probate or letters of administration issued by the Court. The legal heirs of the deceased need to submit the transmission form along with a notarized copy of the death certificate, Ofiginal registered Will along with a grant of probate or letters of administration issued by the Court for the transfer of shares.
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A.Dear Client,
In the situation described, the requirement for a No Objection Certificate (NOC) or a Release Deed from the other two sons before transferring the name in the share certificate may depend on the specific terms outlined in the registered Will. It's advisable to carefully review the contents of the Will to determine if any conditions or provisions address the need for NOC or Release Deed from the other sons. Additionally, consulting with a legal professional or a conveyancer can provide specific guidance based on the details of the Will and local property laws to ensure a smooth transfer of the tenement in accordance with the mother's wishes.
Thankyou
In the situation described, the requirement for a No Objection Certificate (NOC) or a Release Deed from the other two sons before transferring the name in the share certificate may depend on the specific terms outlined in the registered Will. It's advisable to carefully review the contents of the Will to determine if any conditions or provisions address the need for NOC or Release Deed from the other sons. Additionally, consulting with a legal professional or a conveyancer can provide specific guidance based on the details of the Will and local property laws to ensure a smooth transfer of the tenement in accordance with the mother's wishes.
Thankyou
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A.All the property will go in favor of her youngest son. NOC not required from anybody but you can always challenge the will we can help you in completing the same.
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