Sale of property to own sons

Querist : Anonymous (Querist) 16 August 2011 This query is : Resolved
A property was bought by 6 partners in a partnership firm. The property was bought a week before the partners joining date in the firm. Registration of the firm is almost done seven months after purchase of property. Propety was bought on 19th of september 1973. Firm registered on 31st march 1974. The joining date of partners is 27the september 1973. So is the property owned individually by the six persons or shall it be considered as owned by the firm. Also note that though the land was bought earlier the name of the proposed firm is mentioned in the original purchase document.

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ashok kumar singh (Expert) 16 August 2011
it's clear that the property belongs to partnership firm, the dates are not relevant since the parties / partners were intended to have the said property in the name of firm, and obviously it's belong to the firm.

Raj Kumar Makkad (Expert) 16 August 2011
You have replied to your query in last lines so property belongs to firm and not to individual partners.

H.M.Patnaik (Expert) 18 August 2011
Respected Experts,
With due permission can you pl. highlight whether regn. of immovable property is possible in the name of non- existent legal personam , since the partnership firm in question was formed at a later date.

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