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Selling of property under partnership deed
3 years ago
I have a partnership deed for a factory in Haryana. The land is 2400 sq yards, 2000 sq yards is in my name and 400 sq yards is in my partner's name. Total 800 sq yards is mortgaged with the bank.
I have dispute with my partner, can I sell the land which is in my name while the factory is running over it (under partnership deed).
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
The land which you own is the part of the partnership deed and therefore you need the consent of your partner before you sell it.
If you like my answer, please give a good review.
The land which you own is the part of the partnership deed and therefore you need the consent of your partner before you sell it.
If you like my answer, please give a good review.
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A.Hi,
Since' it is a partnership deed and your land is a part of it, you need the consent of your partner before you sell it.
If you like my answer, please give a good review.
Since' it is a partnership deed and your land is a part of it, you need the consent of your partner before you sell it.
If you like my answer, please give a good review.
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Sanjay Kumar Jha
Responded 3 years ago
A.Dear client,
If both of ur land property is vested and mentioned in Partnership deed for ur business and other concerned purposes then in that case none of the partner can sell of it's contributed share of land.
If not declared in such deed the only any one of its share can sell it.
Otherwise, it would be breach of contract and 467, 468 , 420 of IPC may be imposed while suit in court.
Thanks
If both of ur land property is vested and mentioned in Partnership deed for ur business and other concerned purposes then in that case none of the partner can sell of it's contributed share of land.
If not declared in such deed the only any one of its share can sell it.
Otherwise, it would be breach of contract and 467, 468 , 420 of IPC may be imposed while suit in court.
Thanks
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