Property in the name of company

Querist : Anonymous (Querist) 24 November 2011 This query is : Resolved
I intend to buy a property which is in the name of the Company and represented by one of the Director. How this should be registered and what are the documents we should obtain while registering the property.

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Sankaranarayanan (Expert) 24 November 2011
if you buy the property in the name of firm, or pvt ltd or ltd company then it should be in the name of company or firm name only, and all the director or partner should be sign in the document or give power to one of the director and do it.

M.Sheik Mohammed Ali (Expert) 24 November 2011
yes, i do agree expert query reply

adv. rajeev ( rajoo ) (Expert) 24 November 2011
If you are going to purchase the property which is in the name of the companay, then it requires resolution pass4ed in the co., meeting by the directors authorising one of the directors to execute the regd., sale deed of the co., property.

Shailesh Kr. Shah (Expert) 24 November 2011
Sufficient guided by experts.

Rajeev Kumar (Expert) 24 November 2011
Sufficientlyt advised

prabhakar singh (Expert) 24 November 2011
Advocate Rajeev has a right approach to your query.

The company in whose name the property is should by its board of directors by a pre agenda fixed meeting pass a resolution of sale of the specific property authorizing one are more directors to execute and register the sale deed in company's name and on its behalf under seal of the company.

The same should be the resolution procedure to go for buying if buyer is also a company.In case of individual buyer or partners or joint /co buyers no formality of any resolution is required obviously.

Devajyoti Barman (Expert) 24 November 2011
Yes a Resolution needs to be passed first by the Board of Directors.
The property will have to bought in the name of company but represented through its Directors.