Legal opinion
Rajinesh
(Querist) 10 May 2020
This query is : Resolved
Hello dear lawyers..
Raj Kumar Makkad
(Expert) 10 May 2020
1 Individuals.
2. When the entire issue is of proprietorship, where is the question of partnership and further to seek signature of all partners for the purpose of sale deed? Proprietorship firm means property of individual owner.
If in clear words, the title of the property is in the name of the partnership firm, only then you need to obtain either signature of all partners or the resolution of the firm to authorize any partner to sign on behalf of himself as well as on behalf of all other partners or on behalf of the firm.
Rajinesh
(Querist) 10 May 2020
@Raj kumar makkad sir, In the above example of SH. AMIT JAIN PROPRIETOR of M/s Balajee fabrics, As per real partnership deed It has 4 partners including partner Sh AMIT JAIN
But in Conyenece deed from Registrar name is written Sh. Amit jain Prop M/s Balajee Fabrics.
So, singnature of all partners are needed in sale deed?
Raj Kumar Makkad
(Expert) 10 May 2020
No. The property is still in the name of Sh. Amit Jain so there is no requirement to obtain the signature of any other partner of M/s. Baljeet Fabrics. Though the firm stands changed from proprietorship to the partnership but the title of the property has not been changed and you need not obtain the signature of any other person except Shri Amit Jain.
Rajinesh
(Querist) 10 May 2020
Thank you sir..................
Rajendra K Goyal
(Expert) 11 May 2020
You said:
Q1. These plots are owned by Amit jain, Raman jain (INDIVIDUAL) or these plots are owned by PARTNERSHIP FIRMS (M/S Balajee Fabrics and M/S Shrikant industries
Reply:
- If the plot is in the name of Proprietor of the firm, it can be treated as the plot in his individual name.
- Please note before proceeding for deal whether how many partners were there in the said firm, if it was a partnership firm. If the firm was having partners as on the date of conveyance deed, it is safe to have an affidavit from all other partners regarding having no interest in the property/ no objection for sale of property.
- If the property belonged to partnership firm, obtain signatures of all partners on the conveyance deed while purchasing the property.
- If the name of one partner of partnership is mentioned on the conveyance deed as partner of the firm, property belong to all the partners and the partnership firm.
You said:
Q2. Pls guide me what to see in conveyence deed so that I can find out that when I purchase the plot from them, I have to take signatures of all partner in sale deed or signature of only one partner?
Reply:
If the property belong to partnership firm, to be on the safe side, take the signatures of all the partners on the conveyance deed.
It is advisable to get the conveyance deed scrutinized by your lawyer / 30 years search report obtained before proceedings
Rajendra K Goyal
(Expert) 11 May 2020
You said:
In the above example of SH. AMIT JAIN PROPRIETOR of M/s Balajee fabrics, As per real partnership deed It has 4 partners including partner Sh AMIT JAIN But in Conyenece deed from Registrar name is written Sh. Amit jain Prop M/s Balajee Fabrics. So, singnature of all partners are needed in sale deed?
Reply:
If as on the date of previous conveyance deed, there were 4 partners of the firm and name one partner is written as proprietor of the firm with the name of the firm, it is advisable to obtain no objection / affidavit from other partners to proceed with the purchase deal.
