Registering assets on daughter’s name
Question
I paid for some shares and a property, and put it in my daughter’s name. It was not given to her. Who is the owner?
Answer
Your query states that you purchased the property and the shares. These were not gifted to your daughter at any stage. You simply registered them in her name for whatever reason. If this is the case, then you will retain ownership of both the property and the shares. Registering one’s assets in the name of another person does not make them the owner of the assets.
- Answered by
- Mufti Mohammed Desai
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