Why would anybody want to transfer ownership of his property to his company you may ask. There are several reasons why this may come up. For instance, a divorce petition. The high-profile divorce which trigged the world between actress Hiba Abouk and Paris Saint-Germain football star Achraf Hakimi has been making headlines for months.
The centre of the controversy lies in the alleged transfer of property to Hakimi’s mother, affecting the divorce. The point of interest in this case is that Hakimi allegedly does not have any property to his name but all has been allegedly transferred to his mother. Assuming but not conceding to the fact that Hakimi’s property was actually transferred to his mother, is that the best or safest option?
This article delves into the intricate details of a more professional way of dealing with your property, exploring the importance of transfer of property especially to a safer alternative rather than one’s mother. African mothers are great no doubt, especially Nigerian mothers.
In Nigeria, it is almost a cultural abomination to ask your mother to return the money you lent her or to complain that something left in her care is not being properly managed. Nothing stops you from gifting as much property as you want to your parents or mother but if you still want to legally lay claim on that property anytime in the future, you got to do better. So do you want to deal professionally with your property?
How about considering a reversible transfer of the property to your company?
The transfer of property to a company is a common practice in modern business. Transferring property to a company is a strategic decision that should be considered for various reasons. Whether it’s for tax benefits, asset protection, or estate planning, transferring property to a company can be beneficial.
However, it’s essential to understand the intricacies of the process and the potential implications involved. Follow our next article which provides an in-depth analysis of transferring property to a company, covering the different types of properties and business entities, the steps involved, and the pros and cons of such a decision.