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Satya Sai   02 March 2022

Realestate partner death

Situtation:
A partnership firm with two managing partners enter into a Joint Development Agreement with a land owner. 

The contract is to construct an apartment and share the units according to a split percentage mentioned in the JDA

Apartment construction has started and is near completion.

Now death of a partner happens all of a sudden.

How does the registration of flats to customers happen without the signature of the deceased partner? Will the surviving partner's signature alone suffice? Or signatures of the legal heir(s) of the deceased partner is required?

 



Learning

 3 Replies

MUHAMMED SHIBILI TP   02 March 2022

I think the signatures of the legal heir(s) of the deceased partner is required

Satya Sai   02 March 2022

Correction:

There are two managing partners and two sleeping partners in the partnership. And the deceased person is one of the managing partners.

What would happen in this situation?

SHIRISH PAWAR, 7738990900 (Advocate)     02 March 2022

Hello,

As per my opinion, one surviving managing partner can sign the agreement. 


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