A Partnership had purchased an immovable property (vacant land) to an extent of 9590 Sq.Ft. The Firm has 2 Partners. (husband and wife). Wife gifts about 1570 Sq. Ft. of land to her husband in her individual capacity, i.e. without any reference to the Firm. Is the gift legally valid ? does the husband acquires absolue right ?
Hello,
The wife cannot gift the partnership property in an individual capacity. The gift is invalid and the husband does not acquire any rights under the said gift deed.
