Personal housing loan taken against partnership firm
(Querist) 14 July 2021
This query is : Resolved
In a partnership with 2 people A & B, A takes a housing loan by showing his income from the firm, bank includes both the partners and sanctions the loan. But now B does not want to be part of this loan and firm also, what is the best possible way that A gets loan also and B is out of firm and liability too.
(Expert) 14 July 2021
A dissolution of partnership deed shall be executed between them and to be file in Form.V before the Registrar of Firms. Consult a local CA.
Dr J C Vashista
(Expert) 15 July 2021
Whether the loan was taken in the name/ account of partnership firm or individual partner A ? Consult a local lawyer for better appreciation of facts and professional advise.
(Expert) 16 July 2021
" A takes housing loan............" "What is the possible way that A gets the loan .................." Are not the facts posted inconsistent?