enquiry relating to partnership firm
Querist :
Anonymous
(Querist) 26 December 2010
This query is : Resolved
My dear friends,
i am having one doubt regarding partnership firm i.e whether one partner can sale firms immovable property on his own name , what remedies available to other partner? whether his suit is maintainable ? please let me know regarding procedure governing laws.
thanking you .
phani
adv. rajeev ( rajoo )
(Expert) 26 December 2010
He cannot sell the firm's property on his own name.
Which suit is filed by another partner?
adv. rajeev ( rajoo )
(Expert) 26 December 2010
He cannot sell the firm's property on his own name.
Which suit is filed by another partner?
Advocate Bhartesh goyal
(Expert) 26 December 2010
No,He can not sell the Firm's property without joinig other partner.
Querist :
Anonymous
(Querist) 26 December 2010
thank you for your response , whether the other partner can file suit on his own name or partnership firm,s name if so let me know full details ,
thanking you sir.
Y V Vishweshwar Rao
(Expert) 26 December 2010
A Property of firm shall be in the name of Firm - or - it may be in the name of Individual Partner - but declared as Property of Partnership by merging his property in to common pool of partnership -
The Property of Partnership can not be sold /disposed by One/ single / individual partner - the managing partner with the Authorization of the other partners - or - all the partners can sell the partnership Property -
The Other partners of the Firm can file Suit for declaration that the sale deed executed by one partner is not valid and they can ask for injunction if the partnership Firm is still in possession - or - they can ask for recovery of possession if firm is not in possession and they can also seek declaration of title of the Partnership Firm ! According to the facts of the case !
Arun Kumar Bhagat
(Expert) 26 December 2010
Suit shall be filed in the name of the partner.
Querist :
Anonymous
(Querist) 26 December 2010
sir, one more doubt , if suit filing for cancellation of sale deed , what court fee will be paid as per market value or mentioned in sale deed? now i am asking from Andhra Pradesh
Kirti Kar Tripathi
(Expert) 26 December 2010
Court fee shall be payable Under Sub section 4(a) of the 7 of the Court fee i.e. in case, the plaintiff is party to the instrument on the basis of market value mentioned in the sale deed, if he is not party one fifth of the market value of the sale deed.
Y V Vishweshwar Rao
(Expert) 26 December 2010
A Document to be declared . the Value mentioned in the Document is the Value of the Suit for the purpose of Court Fee AP Court Fee Act !
title on the property to be declared the value of the property as on this day to be suit value for the purpose of Court Fee !
Querist :
Anonymous
(Querist) 26 December 2010
Dear Rao sir and others,
Thanks for all the inputs. The issue involved in this case is the firm( with two partners) is having a special power of attorney cum sale agreement in it's favour. Subsequently one of the partner's in his individual capacity sold it to two others. Now can the other partner in the firm's name file a suit for declaration that the sale deeds entered into by that erring partner as null and void? Or else what can be the remedy?
