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Registration required for immovable property for partnership firm
24-Nov-2023 (In Civil Law)
Immovable property of the partnership firm alloted to a partner whether requires registration ? is it compulsary or optional? (The property is in the name of the firm and allotted to one partner at time of dissolution)
Although the comprehensive answer to the query can be given only after scrutiny of all related documents and discussion on various aspects like circumstances and mode of dissolution of firm, prima facie the immovable property in this case will require registration.
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Registration is compulsory for transfer of any right in immovable property. It is not optional. Document has to be typed on stamp paper of appropriate value and registered in the office of the jurisdictional sub-registrar.
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Raghavendra Rao B.K.
Bangalore | 200+ Answers
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Yes as per the registration act any immovable property which is to be transferred and whose value is more then 100 Rs has to be compulsorily registered and without registration you cannot get the title to the property.
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Adv. Bharat Narasgouda
Belgaum | 500+ Answers
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