Partnership Deed Validity / Legality

Agreement deeds 3764 views 2 replies

Siva

Consultant

209 Points Joined November 2008

Hi,

Pls find below is my query and smart answer will be highly appreciated!

- If suppose, a land was registered in the name of the firm during 2007 and the same was unregistered in 2008 by the way of settlement between partners (previous), hence the firm exists or not?!

- If a new partnership deed is created 'before' the date in which the land was unregistered later then the land unregistration (later one) is VALID or VOID?!

- If a partnership deed is created after the date of land unregistered (having the same land for the new proposed unit) where the new registration with new set of partners falls on the next, immediate working / business day (where 3 continuous holildays lying between the 'date of land unregistered' and the 'new partnership deed registerd date' ) since the partnership has been mutually agreed and signed off by the new incoming parters 'before the registration made on the Registrar's office '.

Regards, Siva

Replies (2)

BHARAT K. MOLIYA

STUDENT

26 Points Joined October 2008

1) YES,DEFINATELY FIRM IS EXIST LAND REGISTERD OR NOT REGISTERED IT IS NOT AFFECT THE EXISTENCE OF PARTNERSHIP FIRM

2)YES IT IS VALID

3)WHAT IS YOUR THIRD QUESTION I DON'T UNDERSTAND

Siva

Consultant

209 Points Joined November 2008

Originally posted by :BHARAT K. MOLIYA
"	1) YES,DEFINATELY FIRM IS EXIST LAND REGISTERD OR NOT REGISTERED IT IS NOT AFFECT THE EXISTENCE OF PARTNERSHIP FIRM 2)YES IT IS VALID 3)WHAT IS YOUR THIRD QUESTION I DON'T UNDERSTAND	"

Thanks Bharat, for your kind reply.

I'll write you again in detail to understand the scneario correctly.

- My first question is about firm's land unregistration and settlement between the partners of 3 members.

Among 3 partners, two partners (1&2) given in written to the other partner (3rd, who has SOLD his land to the 1st Partner as his share for the business / firm) that they are

interested to sale the land again to the 3rd partner itself (land owner) as his SHARE but haven't explicitly said that they, both 1&2, are outgoing partners. The same got

registered in the Registrar's office as well. By the time, only ONE partner is exist in the firm.

How we can assume / take this matter. Is that earlier partnership converted to proprietorship or the firm itself get dissolved?

- Later, on the next day, a new partnership has been created between 'One new Incoming Partner' and with the already existing (3rd) Partner and the previous two (1&2) Partners

are going out of the firm by set them as 'Outgoing Partners' by providing necessary documents (FORm-5:Rule 4) to the Registrar's office.

So, in this case, is the firm really ACTIVE or DISSOLVED and how we can dealt with this matter or to prove the firm is NOT DISSOLVED? This's what my 3rd Question.

Hope you can understand the detail. If you need any further clarification on this, kindly let me know.

Regards, Siva