Partnership firms 7/12 extract name change procedure
Noor Mohammad
(Querist) 21 February 2022
This query is : Resolved
Dear Sir,
A partnership firms registered with ROF mumbai owns land through its three partners having firm name along with 3 partners on 7/12 extract. all three partners resigned and two new partners take over firm by investing 100 % capital money outgoing partners resigned and released all their rights, share in favour of new partners as per partnership deed reconstituted as admission cum retirement deed duly notarised before advocate in mumbai.
For change of 7/12 extract on new partners and removal of old partners name what is the legal procedure as per partnership act and Maharashtra land revenue act.
pls explain proper legal procedure to change 7/12 record of right.
kavksatyanarayana
(Expert) 21 February 2022
Are the Partners(both outgoing partners and incoming partners) filed the Form.V along with the Reconstitution/retirement Deed before the ROF? If yes, with the copy of the reconstitution deed and acknowledgment to the RDO/SDO/Revenue Authority concerned to change of 7/12 record.
Noor Mohammad
(Querist) 22 February 2022
Form E for addition of new partners submitted to ROF which is under process.
I want to be very clear that we are confused we have taken legal advice from lawyer he said release deed needs to be filled but that is not acceptable to sub registrar as we have already consulted with registrar' officer he said needs to registered sale deed from old partners to new partners by paying current stamp duty and talathi also ask registered document to change 7/12.
We need proper legal advice and any lawyer ready to do this work pls give me contact details.
Because registration office doesn't have proper knowledge about partnership firm
They know only way of transfer 7/12 can be changed.
We approached tahsildar also he said registered document only accepted.
Pls advice.
P. Venu
(Expert) 20 April 2022
To my understanding, there has been a conveyance of property which warrants that the conveyance deed be executed and registered.
It is mandatory in terms of the provisions of Section 17 of the Registration Act that every conveyance of property be registered. The alleged investment by the new partners cannot circumvent this statutory requirement. What cannot be done directly, cannot be done indirectly as well.
