Partnership firm - land purchase !!


Me and my wife would like to register a firm and plan to buy agriculture land about 100 acers or more on the name of firm!! to avoid the land sealing !!

Please advice is this a right approach or not? and is there any risk associated ? or any other best solutions do we have?

Please advice.

Thank you,

 

Reddy

 
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Lawyer

Engage a local lawyer, seek his/her services, pay him/her fees,  seek necessary guidance and advise. 

 
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Advocate/Attorney

Yes, you can register a partnership firm and can buy properties in the firm name.  Thus, you can avoid risk of ceiling.  As the matters of immovable properties i.e. open lands are very complicated, you have to consult an experienced lawyer and Chartered Accountant.  If you have any further queries you can contact me 7893011777 or ravinder2345@gmail.com

 
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As learned Mr. Ravinder suggested, you can go ahead with the purchase in the name of the partnership firm by making a proper partnership deed to avoid ambituiy in future.  As advised, you may consult your auditor as well as  a local advocate conversant with the related laws for proper opinions before you enter into the project.

 
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Thank you and let me consult a auditor and will post if i had any further questions !!

 
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Chief Manager(Law)

Please check Land Reforms Act of State in where you intend to purchase agricultural lands regarding prohibition for purchase of agricultural land by non agriculturists and other restrictions.

 
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