Sale of Private Limited Property to Director

kings22 (Shareholder) (160 Points)

19 April 2024  

Family owned (non public) Private Limited company owns a property this is also being decided by all members to be sold to the key director and majority shareholder. 

What are the formalities to be completed before registration of property transfer in the next board meeting?

Also, what needs to be done for any disclosures if this is considered a related party transaction?