Tenanted property
Harsh
(Querist) 19 June 2009
This query is : Resolved
We are tenants of a property since a couple of yrs infact decades. We receive the rent receipts in the name of the individual partners then. Before and after the retirement of the partner also the rent was being paid by the partnership firm with existing partners. This has been going on since couple of years(decades). We also have a dissolution deed of the retired partner and a letter stating that he has no right over the properties or business henceforth. Can the legal heirs of the retired partners create confusion or can the builder who intends to develop the property create confusion of any sort?
M. PIRAVI PERUMAL
(Expert) 19 June 2009
When you have the records perfect as stated by you in your query, then there is no question of retired partner's legal heirs creating confusion.
Harsh
(Querist) 19 June 2009
Thanks allot.... This was really prompt
Y V Vishweshwar Rao
(Expert) 19 June 2009
In Dissolution Deeds all rights in the Firm assets are relased- including Firm Tenancy Rights , by the Retiring Partner/s.
Now he is no more and hsi lrs are not partner of he Firm and his lrs can not claim any rights such as tenacy /lease of Firm !
Kiran Kumar
(Expert) 19 June 2009
both the experts are correct.
retirement of partner dissolves his every interest in the firm property.
even the builder can not take advantage out of it though he may get it vacated on other grounds.
but u must ve the correct record of all such transactions.
Harsh
(Querist) 20 June 2009
Thanks once again.... to all...
Jayashree Hariharan
(Expert) 20 June 2009
No one can do anything. You have all the documents right. don;t worry.
ajay somani
(Expert) 20 June 2009
the legal heirs of the retired prtner having no locus to claim any type of interest in the property of the partnership firm, in view the deed of retirement/dissolution rights of the outgoing partner are ceased automatically, quetion of creation of any doubt in mind does not arise. The documents itself are sufficeint to establish that the outgoing partner or his/her elgal heirs shall have no right in the proerty of the firm in any mode or manner. adv. ajay somani, nagpur- 09373157000
