How to buy an entire firm?

 

(Querist)
31 January 2019

hello, I want to buy an entire business firm (FACTORY) in which the land (which was in the name of the firm ) was transferred from 3 partners to one partner by conveyance deed. So If I want to purchase the land and business of the firm from that person, then do I need to execute a partnership deed or sale deed or both?
Is it mandatory to pay stamp duty and do registration of land, in case to transfer the title/ownership of property from that one partner to my name?


N.J.S.Rajkumar alias narasimha (Expert)
31 January 2019

Better you should seek the guidance of a ACS = Company Secretary for Due Diligence

Nikhil chaudhary (Querist)
31 January 2019

ok, I will consult to a cs

kavksatyanarayana (Expert)
31 January 2019

The 3 partners sold the land to one partner. Whether the land is in the name of Firm or in the name of partners individual names. Is the Firm dissolved or not? so it is better to consult local CA/CS as suggested by expert Mr. Rajkumar alias narasimha ji.

Nikhil chaudhary (Querist)
31 January 2019

Sir, the Firm is also dissolved to the owner in whose name the conveyance deed is.
Yes sure, I will do the same.



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