Partnership firm

Depends upon the fact whether the property has been ceded to the partnership firm as part of capital brought in as artner, by the owner of the property or the property has been offered as security for the debt contracted by the firm and the debt is still outstanding.

There are tax implications and your Chartered Accountant is a better person to advise you on the matter than a lawyer. CA s too are adequately equipped in law relating to property in their studies and on-field experience. When a complicated question is involved and a litigation is probable, then your CA will advise you to take the assistance of a lawyer on the issue determined by him as of legal import.

Thanks for the reply. The property was bought with funds provided by my grandfather upon his advise my dad, my dads brothers wife, my grandfathers brothers sons were made partners. All documents will be having the phrase purchased for this firm represented by its partners and all names follows. So my CA advised an admission retirement reconstitution deed where I join and then the other 3 retire. Will this get clear title? The partnership firm was not registered and hence the reconstitution deed will also be unregistered. Please help? Thanks