2 directors can buy property in their name, paid by company

Riten Dalwadi (Querist) 08 December 2023 This query is : Resolved
I and my Wife are director of company, can both directors buy property in its name and payment to be made by company

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This discussion clarifies whether two directors can purchase property using company funds. Generally, if the company finances the purchase, the property should be registered in the company's name. If directors buy property in their own names, it is considered their personal asset, even if funded by the company, which can lead to complications.

kavksatyanarayana (Expert) 08 December 2023
The two directors can buy property in the name of Company and if the director buys the property in their name, the property is their property.

T. Kalaiselvan, Advocate (Expert) 09 December 2023
The company has funded for the purchase of the property out of its funds, then it is but natural that the directors have to purchase the property in the name of the company and not on their individual names.

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