Transfer of property from my father's to my mother's name
SHEKHAR
(Querist) 09 August 2014
This query is : Resolved
Dear Sir's :
Please have look at my situation mentioned below & please suggest me an answer to my query.
SITUATION :
1.My father & his Partner had purchased a land in THANE District,Maharashtra & developed that land in to bunglow /row house & made 2 flats & 2 shops over that land & we stay over there since 1985.They have a partnership deed & we have a copy of that .
2.My father had a shop in his name & we have a agreement copy of the same
3.All our property taxes come in the name of UNIT ARSENX & CO.. & pay our taxes to THANE MUNICIPAL CORPORATION
Question:
Recently my father has passed away & I need to transfer that shop to my mothers name & get it registered ; So what is the procedure for the transferring the said shop to my mothers name ;since we both are only the legal heirs of my father ?
Await your kind replies
Thanking you in anticipation for your further/future help.
Regards
Shekhar
ABDUL RAZIQUE
(Expert) 09 August 2014
Dear author,
First i do not know what stated in partnership agreement, secondly it is not clear that one shop is in your father name then between whom on what term and condition the shop was running by your father. So consult a local Lawyer with all documents.
Dr J C Vashista
(Expert) 09 August 2014
Show the documents to local lawyer and seek his/her advise.
malipeddi jaggarao
(Expert) 09 August 2014
You should immediately initiate talks with the surviving partner (your father's friend) and ascertain the details of assets of the firm and its liabilities as on date of death. You should ask for a copy of partnership deed and examine thoroughly. What is the share of your father in the partnership can be ascertained from the partnership deed. You have a right to inspect the books and accounts of the firm in the capacity of legal heir to the deceased partner. The Partnership firm is dissolved as per the provisions of Section42 by the death of the partner. If a partner derives any profits for himself from any transaction of the firm, or
from the use of the property or business connection of the firm or the firm-name, he
shall account for that profit and pay it to the firm.
What I wish to say is as legal heirs of your father who was a partner in a partnership firm, first you have to settle your account with the surviving partner. Since partnership is automatically dissolved on death of one partner (unless contrary provision is made in the deed), the surviving partner/s and legal heirs of your father should settle the accounts; share the profit and losses (as on date of death of your father) and divide the assets by a registered agreement on account of dissolution by contingency (Section 42 of Indian Partnership Act). At this stage you can express your desire that the assets can be in the name of your mother with mutual consent. Then mutation has to be registered in the concerned Government records.
It is not so easy that you can handle all these affairs on your own. I have given you the back ground. First you have to initiate dialogue with the surviving partner/s. If they made arrangements for sharing the profits/losses/properties, you can follow them and if you feel like seeking a legal advice, you can do so by handing over all the papers to a local lawyer.
Rajendra K Goyal
(Expert) 09 August 2014
Consult a local lawyer and show him all the documents.
Raj Kumar Makkad
(Expert) 11 August 2014
Rendition of accounts is must in partnership firm in the light of given facts and it may take place either mutually or through intervention of the civil court and only thereafter the share may be got transferred by many agreed ways.
T. Kalaiselvan, Advocate
(Expert) 11 August 2014
Consult a local lawyer, produce the details before him, discuss all the issues and proceed if the advise satisfies or take a second opinion.
Kumar Doab
(Expert) 21 August 2014
Agreed with experts.
Approach your trusted and able local lawyer with all docs on record, understand the merits and proceed under expert advice of your lawyer.
