TO CHANGE OWNERS NAME IN PROPERTY DOCUMENTS

This query is : Resolved

swamy (Querist)
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31 January 2023 DURING 2010 A PARTNERSHIP FIRM CONVERTED INTO PRIVATE LIMITED COMPANY.IN THIS PROCESS SOME IMMOVABLE PROPERTY TITLES HAS NOT BEEN CHANGED.AFTER 12 YEARS ALSO THIS PROPERTY DOCUMENTS IS SHOWING PARTNERSHIP FIRM NAME.BUT ALL THESE YEARS PRIVATE LIMITED COMPANYWAS PAYING MUNICIPLE TAX AND CLAMING DEPRICIATION.NOW PLS SUGGEST,WHAT IS THE PROCESS TO FOLLOW TO CHANGE THE NAME IN PROPERTY DOCUMENTS OF THIS ASSETS FROM PARTNERSHIP FIRM NAME TO PRIVATE LIMITED COMPANY'S NAME?.

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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02 August 2025 Here’s the process to change the ownership name in property documents from the old Partnership Firm to the Private Limited Company after conversion:

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### 1. **Check the Sale/Transfer Deed and Partnership Deed:**

* Verify if the Partnership deed or any conversion agreement mentions transfer of assets to the Private Limited Company.
* Ideally, there should be a formal agreement or Board Resolution regarding the transfer of assets from the firm to the company.

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### 2. **Prepare a Sale/Transfer Deed or Conveyance Deed:**

* Since the property is still in the Partnership Firm’s name, legally the ownership needs to be **transferred** to the Private Limited Company.
* Draft a **Sale Deed/Conveyance Deed** or **Gift Deed** (if no sale consideration) from the Partnership Firm to the Private Limited Company.
* This deed should be executed on a **stamp paper** as per local state laws.
* The deed needs to be signed by all partners (as transferors) and authorized signatory of the Private Limited Company (transferee).

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### 3. **Obtain Board Resolution:**

* The Private Limited Company should pass a **Board Resolution** approving the purchase/transfer of the property from the partnership firm.

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### 4. **Payment of Stamp Duty and Registration:**

* Stamp duty and registration charges will be applicable on the transfer deed as per state laws.
* These fees vary by state and depend on whether the transfer is by sale or gift.

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### 5. **Registration at the Local Sub-Registrar Office:**

* The transfer deed must be registered with the **Sub-Registrar office** where the property is located.
* Documents required typically include:

* Original title deed of the property (in the partnership firm's name)
* Partnership deed
* Certificate of Incorporation of Private Limited Company
* Board Resolution of the company
* PAN cards and identity proofs of partners and company directors
* Transfer deed signed and stamped
* Proof of payment of stamp duty and registration fees

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### 6. **Mutation of Property Records and Municipal Records:**

* After registration, apply for **mutation** of property in the local municipal office to update the owner’s name in property tax records.
* Since the company has been paying municipal tax all along, update this officially with the mutation certificate.

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### 7. **Tax Implications:**

* Transfer of property from Partnership Firm to Company may attract **Capital Gains Tax** in the hands of the firm/partners.
* Stamp duty and registration fees are also payable.
* Consult a tax professional for proper tax planning and compliance.

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### Summary Table:

| Step | Action |
| -------------------------------- | -------------------------------------- |
| 1. Document Review | Partnership deed, conversion agreement |
| 2. Draft Transfer Deed | Sale/Conveyance/Gift deed |
| 3. Company Board Resolution | Approve transfer |
| 4. Pay Stamp Duty & Registration | As per state rules |
| 5. Register Transfer Deed | At Sub-Registrar office |
| 6. Apply for Mutation | Update municipal/property records |
| 7. Tax Compliance | Capital gains tax and other taxes |

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### Note:

* If no formal transfer deed exists from the time of conversion, it is important to do it now to avoid legal issues in the future.
* Professional help from a lawyer or a property consultant is recommended to prepare correct documentation and complete the process smoothly.

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If you want, I can help draft a basic transfer deed or guide you on the exact documents required for your state. Let me know!

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