Akash 11 August 2024
I am a partner of an unregistered partnership firm. We own a few properties in the name of the partnership firm. I want to know if there can be any challenges regarding sale of such property or our rights in case of any dispute regarding such a property. We have a properly registered agreement having paid all stamp duty.
kavksatyanarayana (subregistrar/supdt.(retired)) 11 August 2024
The partners of the Firm have rights over the firm's property as mutually agreed in the deed. If any dispute is raised, any partner can file a case in the court.
T. Kalaiselvan, Advocate (Advocate) 11 August 2024
If the property was purchased on the name of the partnership firm then the partners cannot claim any share in the property until and unless they decide about it as per the provisions of the AOA or the partnership deed.
You have mentioned that it is a registered sale agreement in that case there is no sale deed also in the name of the firm, then even the firm cannot claim title to the property without clear and marketing title
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