Title of the property
Rajesh Thakker
(Querist) 14 August 2009
This query is : Resolved
Plots hold by individual. Name is entered into revenue record i.e 7/12 as ABC propritor of Krishna Developers. Then after ABC convert his business of Krishna Developers into partnership. The registration of the partnership is required under the Registration Act? or can Names of the partners added into the revenue record i.e. 7/12 according to partnership deed without registration? If names of the partners added into the revenue record on basis of partnership deed without registration, then can title of the property clear?
A V Vishal
(Expert) 14 August 2009
Rajesh
The property in question belonged to ABC in his individual capacity, however, after changing the constitution of the business the land is transferred in the name of the partnership firm represented by all its partners. Moreover, non registration of the firm has legal disabilities. Hence advise to register the firm and transfer the property in the firm's name.
n.k.sarin
(Expert) 14 August 2009
in my opinion title of property clear.
sanjeev murthy desai
(Expert) 14 August 2009
If any one formed a Partnership firm and its have any immovable properties that partnership firm should be registered and otherwise its not having any good title.
sanjeev desai
Y V Vishweshwar Rao
(Expert) 15 August 2009
1-Originally It is the property of the Individual - later it is converted in to partnership property
2- It became the Partnership Property - Under a Deed of Partnership - by Declaration Clause that the Proerty is Partnership Property
3- It is necessary to get the mutation in the name of Partnership Firm- on the basis of the Declaration of the Individual who converted the land in to Partnership Proerty
4- Firm is required to be registered Under Partnerhsip Act .
RASIK DAGLI
(Expert) 15 August 2009
I agree with Mr.Rao.It is advisable to get the firm registered under the Partnership Act . In absence of registration the firm will not be able to enforce any contract. Unregistered firm can not file any Suit in any court.
RASIK DAGLI
Advocate.
