One Immovable property is registered on the name of Partnership Firm having two Partners further they enter two new partners then two old partners get retired.
Now question is : 1- The right on immovable property is limited to current partner only??
2.Should Immovable Property will need to change the tittle or get registery again ???
2-
Dear Saurabh,
As far as I feel,
A partnership firm can hold property in it's name..Therefore the rights are limited to partner's only at any given point of time..
Mere addition/retirement of partner does not mandate the re-registration of property..
Re-Registration will be required only in When property is transferred.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
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M N Rao & Associates LLP
Vijayawada
CA Inter
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