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CA Sapna Ghelani (Chartered Accountant)     03 August 2021

DECEASED PARTNER - PARTNERSHIP DEED

Can we add a clause in partnership deed regarding who will take over if one of the partner dies?basically who will replace the deceased partner. Can we mention a clause in the current partnership deed about it? 



 4 Replies

Sourav

Sourav (Student)     03 August 2021

Yes it can be mentioned
Ankit Neema

Ankit Neema   03 August 2021

Yes , I think it is possible,
Mahesh Shah

Mahesh Shah   03 August 2021

Please reffer to sec 42 of Indian partnership act.....
If there are more than 2 partners....then it is possible...either nominee or legal hair ( subject to the intention of agreement in deed)
But
if there are only 2 partners, then firm is dissolved ,on demise of one
please go through Indian Partnership Act
Sourav

Sourav (Student)     04 August 2021

Yes mahesh ji... thanks for the information

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