Family office services in Mumbai: legal structure, trusts and succession

What is different about Mumbai family assets?

• Society flats: most Mumbai homes are co-operative society flats, where the share certificate and society membership matter along with any deed. Before moving a flat to a family trust, check the bye-laws and how the society will record the trustee.
• Leasehold and redevelopment: a building on leasehold land or heading into redevelopment may need consent from a lessor or society, and a planned transfer can affect a member's position.
• Tenanted and old family property: pagdi tenancies and inherited buildings have their own limits on transfer, so read the papers first.
• Family firms: many hold assets across partnerships, private companies and HUFs built up over decades. The first task is often simply finding out who owns what.

Maharashtra stamp duty and registration

Stamp duty in Mumbai depends on the instrument: conveyance, gift, partition, settlement or trust. Maharashtra has concessional treatment for certain family transfers, so the type of document can change the cost substantially. We confirm the current position with the IGR Maharashtra rules before you decide between a family settlement, a gift or a trust.

Which court handles a family dispute in Mumbai?

For wills and estates in Mumbai, the Bombay High Court's testamentary jurisdiction is often relevant, depending on value and location. Family Courts sit at Bandra, and Navi Mumbai matters typically go to Belapur. Our Mumbai divorce page gives more on family disputes, and Mumbai property lawyer covers property disputes.

What should a Mumbai family bring to the first meeting?

• A rough list of properties, with society names and any tenants
• Share certificates, or a demat summary
• Partnership deeds, company details and any HUF records
• Existing wills, trust deeds and family agreements
• Home loan and guarantee details
• Which members live abroad, and their residence status

Scans are fine at first. A list that is incomplete is still a good place to begin, and building it is usually part of the first stage of the work.

A made-up example

Two brothers in Dadar and Borivali hold a family firm's shares, two society flats and an old tenanted shop. One brother's son lives in London. A legal review first confirms who holds each asset. The firm's articles are found to be silent on transfers, while the nominations on the flats name a late parent. The result might be new wills, updated nominations, a shareholders' agreement, a family settlement for the flats and a FEMA check for the son. A family office in name is not needed for any of this.

What decides the fee

• Structure advice only, or drafting and registration as well.
• How many family members, entities and countries are involved.
• Tax advice is given with your chartered accountant and is separate.
• Government charges (stamp duty, registration fees, court fees) are paid at actuals, separately from our fee.

We quote in writing once we have seen the papers. Call +91 8291849797 or book a consultation.

How to work with us from Mumbai

Most families send the papers by email first, then come to our Vashi office once or meet by video. Call +91 8291849797 or +91 9167710454 for an appointment. Our family office services page lists everything we do, and this guide shows the setup steps.

This page is general information, not legal advice. Tax points must be confirmed with your chartered accountant, and rules change, so we check the current text before acting on your matter.