remutation of land

prakash (Querist) 09 July 2010 This query is : Resolved
While purchasing land to do business.land was registered as A.B.& co's partners 1& 2.Now partner 1 has retired by setteling all his accounts.On furnishing the retirementdeed to the land revenue dept.the concerened officer opines that on retirement of partner 1 the name of the outgoing partner can not be deleted from record but partner 2 has to reregistere the land in his single name.
Please advice if it is right or wrong ?

Follow Query

Report Abuse

Chanchal Nag Chowdhury (Expert) 10 July 2010
WRONG.Even after retirement,the land continues to remain in the name of A.B.& co. only it has changed from partnership to proprietorship. Nothing is reqd. to be done.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries

Member Strength 9,53,684 and growing..

Stay updated with latest Posts!

Download LCI APP

Our Network Sites

Trouble Logging in? Try following the given steps -
1. Visit your inbox to find a confirmation mail from LAWyersClubIndia.
2. Click on the confirmation link and confirm your signup

New users who have not received email verification mail click here to verify