Conveyance deed with pf bet co who has changed his name only in roc
hetalsangoi
(Querist) 10 August 2012
This query is : Resolved
when conveyance deed is executed
what are the document to be mentioned in the schedule so the authentic of document is become more en forceful when deed is executed between pf between co who has changed title name of the co but property is still standing on the name of former name?
but co has made application to change the property name on the new existing co name , but still property title is not on the name of new co name ? what to do?how to execute the conveyance deed? what r the alternate solution which can protect the interest of the buyer of the property?
M V Gupta
(Expert) 11 August 2012
Mere change in the name of a company does not affect title to its properties standing in its old name. (See Section 23(3) of the Act).While drafting the sale deed the new name of the company mentioning its old name should be mentioned as Vendor. Ex: "XYZ Company Ltd, now known as ABC Company Ltd -----". In the recital clauses the certificate of change of name issued by t he ROC should be mentioned, with copy thereof annexed to the sale deed as an Annexure. It is better to get the new name of the Company entered in the record of rights (7/12) for which the vendor should apply at his own cost. Otherwise the purchaser will have to incur expenditure for mutation of not only his name but also the new name of the vendor Company.
