property

Querist : Anonymous (Querist) 25 December 2009 This query is : Resolved
I AM A PARTNER OF ABC WE HAVE PURCHASED A PLOT IN OUR FIRM NAME IN INSTALLMENT FROM FINANCIAL INSTUTUION BUT DUE TO UNAVIODABLE CIRCUMTANCES THE PARTNERSHIP FIRM IS DISSOLEVED AND I HAVE PAID ALL THE AMOUNT TO MY PARTNER TOWARDS THEIR SHARE INVESTMENT IN THE FIRM.

NOW I WOULD LIKE TO TRANSFER THIS PLOT IN MY NAME BECAUSE PARTNERSHIP FIRM IS DISSOLVED.

WHEN I CONTACT TO FINANCIAL INSTITUTION THEY SAID 1ST YOU HAVE TO REGISTERED THIS PLOT IN YOUR PARTNERSHIP FIRM NAME AND THEN GET THIS PLOT TRANSFEERD IN YOUR NAME BUT MY PROBLEM IS HOW I CAN REGISTERED THIS PLOT IN MY FIRM NAME WHEN THE FIRM IS DISSOLVED AND THE PARTNER OF THE FIRM IS NOT IN MY CONTACT.
PLEASE TELL ME WHAT SHOULD I DO.

THANKING YOU IN ADVANCE

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Raj Kumar Makkad (Expert) 25 December 2009
Second option is that all the previous partners make a due statement by way of their duly sworn affidavits to the effect that as partnership firm do not exist so the as per dissolution agreement/deed, this plot be got registered in your individual name then the institution may consider otherwise as per rules institution is at right place.

adv. rajeev ( rajoo ) (Expert) 31 December 2009
I do agree with RAj and. Let all the partners to give no objection or consent letter to the financial service to transfer the property in your name.

adv. rajeev ( rajoo ) (Expert) 31 December 2009
I think whatever advises given by the learned members and myself is not possible because by mere filing affidavit and consent or no objection letter you wont get the property in your name so suggest that go for declaration suit by discussing with the ex partners and file a suit against them. In the said suit file a compromise petition and as per the decree you get transfer the property in your name. You will have to pay the court fee on the market valuation of the property, it is burden on you.

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