Death of partner and introducing his wife as partner.
This query is : Resolved
31 March 2016
Hello sir,
Greetings of the day.
We having partnership firm contain two partners i.e Son (X) and Father (Y).
Recently Y passed away. For all banking transactions Y was only authorized person.
We explained to bank officials all these regards and then bank manager asked us to take death certificate and legal hier certificate.
in this matter we planned that introduce Y's wife as nominee. so that we planning to ammend the deed.
So, please kindly inform that whether we have to amend the deed and kindly provide the format for this.
Kindly help us.
Thanking you
Greetings of the day.
We having partnership firm contain two partners i.e Son (X) and Father (Y).
Recently Y passed away. For all banking transactions Y was only authorized person.
We explained to bank officials all these regards and then bank manager asked us to take death certificate and legal hier certificate.
in this matter we planned that introduce Y's wife as nominee. so that we planning to ammend the deed.
So, please kindly inform that whether we have to amend the deed and kindly provide the format for this.
Kindly help us.
Thanking you
31 March 2016
You need to check the provisions of the partnership deed between X and Y. Please check if there is any provision to that effect. If it is NOT there, you have landed into a dead lock situation.
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