Dear Sir,
I have a query regarding immovable property of partnership firm turn to propreitorship.
details:
Initially the firm consitutes of 4 partners and they purchased immovable property in the name of firm and also mentioned in sale deed the names of four partners.. later on the death of one partners the legal heir joined and a new partnership deed was formed. Then now the original three partners retire and the legal heir who joined the partnership is remaining in the firm. Now the firm is proprietorship.
my question is whether the remaining propreitor is having ownership right of immovable property.
though it is a municipal land and municipal is mutating in the name of remaining propreitor by registered lease.
whether we have to registered anywhere the name of remaining propreitor for transfer the name.
whether the partnership deed should by compulsorily notarised.
thanks.
CAclubindia
