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Land dastavej

Querist : Anonymous (Querist) 13 September 2011 This query is : Resolved 

If someone having registered partnership firm and we new partner take it over and get resignation from all current partner and make an agreement on 1000 Rs Stamp and again make new partner's entry in Form-G Of Registrar of Firms, then will it be require to make a land dastavej to enter our name in 7/12, 8-A and No-6? Is it compulsary to do a land dastavej to be 100% owner of partnership firm?

Land is on the name of partnership firm.

Please reply,

Advocate Rajkumarlaxman (Expert) 14 September 2011
for entering the name into the extract you have to approach and give the details of your transactions and make it avaialble in diary extract . for the same you have to make land dastavej as stated by you.
prabhakar singh (Expert) 14 September 2011
No,it would be an illegal act.As a partnership firm is not a judicial person only a facility is provided in C.P.C. for suing in name of partnership firm,but as regard to properties of firm, movable or immovable, they belong to only partners and partnership simply states their respective shares.Since right title or interest in immovable property can not be transferred without a registered deed,here also merely change in constitution of firm can not ipso facto transfer the right title and interest of old partners in new partners simply because it is a partnership firm registered
with registrar of firms as that registration does not make the firm any judicial entity but only enables it to sue persons who have been dealing with the firms.

Therefore the very conception thought by you is against the law is my opinion.

You do need a registered sale deed by all old partners in name of new partners and reference of partnership shall guide only about there share only.
Raj Kumar Makkad (Expert) 14 September 2011
Repeated query
Raj Kumar Makkad (Expert) 14 September 2011
I do agree with the advice of prabhakar singh otherwise.
girish shringi (Expert) 14 September 2011
Basi query regarding the transfer in the No6 &7/12,can be done by the registered Partnership Deed,where the leaving partners withdraw their right on the property and new partners are eligeble for the rights on the property.

As far as Income Tax purpose is concern the same would be applicable.

As far as registration Act has concern the part of the property which can be shared by old and new partners that part of the documentation is required to be registered and not the whole.

However the general practice in these kind of the cases are like to take Irrevokable POA in favour of the Firm and the firm.

For detail you can visit my profile,if any query remained to be asked.
Querist : Anonymous (Querist) 15 September 2011
Thank u all..

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