Limited liabilty partnership firm(llp)

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Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 I have an LLP firm,and now me and my partner want to buy a land...Now we are in a confusion that whether we should register the land in the LLP's name or in our names ?What do you suggest?Also will there be any complications at the time of selling incase if we register in LLP's name?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 January 2014 i would suggest buy in your own name to secure your interest..buying in LLP may create issues where you may add new partners..

what you can do is, buy the land in your name, if any construction is to be done, that be done jointly with LLP or alternatively, even the construction can be done on your own and later the same can be leased to the LLP.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 January 2014 yes agreed with nikhil's view.

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