Land
Querist :
Anonymous
(Querist) 06 October 2020
This query is : Resolved
Respected experts,
I own land, and can I transfer the property to the partnership firm or in the name of my partners?
Advocate Bhartesh goyal
(Expert) 06 October 2020
Yes,a absolute owner of property can transfer the same to any one as per his wish.
Hemant Agarwal
(Expert) 06 October 2020
1. You have no legal right to TRANSFER any property in anybody's name. This jurisdiction is vested only with the Revenue /Municipal authorities, who will transfer /mutate based on the registered Sale /Gift /.... Deeds.
2. However, you can Sell /Gift /Donate /whatever.... your property to ANYBODY by executing a duly Stamp Duty paid and Registered Deed and based on this the aforementioned authorities will conduct the transfer /mutation on their records.
Keep Smiling .... Hemant Agarwal
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kavksatyanarayana
(Expert) 06 October 2020
You can transfer your land to anyone only by way of Sale/Gift. But you transfer by investment in a Partnership firm, the property will be vested with the Firm only and all the partners have rights over it. So you can invest your land in Firm business as your capital and after the dissolution of the Firm, it shall be with you. For this, you have to join in the Firm as a Partner and execute a constitutional partnership deed with other partners.
K Rajasekharan
(Expert) 07 October 2020
You have every legal right to “transfer the property”, which you own, to any individual or company or a body of person incorporated or not.
'Transfer of property' is an act of a person who conveys the property to any individual or body of persons.
To transfer your property you have to execute the document, register it in the Sub Registrar Office and perform mutation in the revenue / appropriate office for collection of taxes.
Dr J C Vashista
(Expert) 08 October 2020
If you are the titleholder / owner, you can transfer in the name of anyone including partnership firm.
Rajendra K Goyal
(Expert) 08 October 2020
You can sell / gift / donate your property in favor of anyone through registered documents.
