partnership firm immovable property
VIKRAM BALU
(Querist) 13 January 2010
This query is : Resolved
Sirs,
a property was purchased in the name of 5 family members by registered sale deed. They constituted a partership by will by an unregistered partnership deed to manage the property. The property was not brought in as capital or asset of the partnership. after 2 years, they executed another unregisterd partnership deed and brought the immovable property as capital of the partnership. 1 year later they executed another unregistered partnership retirement deed whereby 3 partners retired mentioning that did not want the property and 2 alone were partners in the partnership. later 1 of them died and the last one transferred the revenue records to his name. How is this possible?, the only encumbrance in the registrar office is the initial sale deed. There is no release deed registered by any of the co-owners. Who holds the title to the property? whether the last person has a valid title?
n.k.sarin
(Expert) 13 January 2010
Mr. Vikram The last person has not any valid title.All the successor of the deceased partner and last person jointly has title,if no one challenge the unregistered partnership deed.No rights and title can be created by an Unregistered partnership deed.In my opinion registered sale deed is a valid document and all the five family members is equally(if any one deceased, his legal heirs )get their share.
