ummesh
(Querist) 31 July 2016
This query is : Resolved
Dear Sir..We have a partnership firm with two partners. The partnership is at will and there is equal sharing of profit and loss mentioned in the deed. The firm is at heavy loss and the property of the firm is in the name of the firm. Being legal heir of one of the deceased partner of the firm i want to understand my rights on the property of the firm and will the liability of the firms be transferred on to me. Also, can i sell the property of the firm since i belive the partnership is dissolved after death of the partner?
Guest
(Expert) 31 July 2016
Assumption can never be a belief. Your belief should be based on some documentary evidence whether the firm is dissolved or not.
Better get the partnership deed, dissolution deed and the audited accounts of the firm examined properly by some expert to get appropriate advice.
adv.bharat @ PUNE
(Expert) 31 July 2016
No reply to repeated query since answer is already given.
Rajendra K Goyal
(Expert) 01 August 2016
No reply to repeated query.
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