PARTNERSHIP

Querist : Anonymous (Querist) 02 January 2010 This query is : Resolved
a property has been purchased by a partnership firm having three partners. after sometime one of them died. now problem is this ..and other two partners want to mortgage the property. Is is possible ? and what should be do?

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Ashok Yadav (Expert) 02 January 2010
You can find the Answer of your this question in your partnership deed, there will be some condiotions for retirement of partner or wht will happen after death of one partner, so go through that deed. Nothing can be said without reading of that partnership deed.

Devajyoti Barman (Expert) 02 January 2010
The property having been purchased in the name of the Firm the other two partners can surely mortgage the property unless otherwise provided for in the deed of partnership.

kanhaiyalal ojha (Expert) 03 January 2010
You may in accordance with the terms and conditions of the deed only. ----K L Ojha,advocate,Jharkhand High court,Ranchi-M-09431902920.

kanhaiyalal ojha (Expert) 03 January 2010
You may act only in accordance with the terms and conditions of the deed only. ----K L Ojha,advocate,Jharkhand High court,Ranchi-M-09431902920.

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