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Want to introduce new partners in partnership firm


10-Feb-2023 (In Corporate Law)
A partnership firm having immovable assets can induct new partners and release old partners . is registration required for the immovable property involved.
Answers (2)

Answer #1
698 votes
If the property is listed as an asset of the partnership firm, then no registration would be required. However, if it is not then it is advisable to make the necessary changes. So that the title of the property with the firm is not questionable.
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Answer #2
900 votes
The partnership firm can induct new partners and release old partners, but upon such induction/release, a fresh deed of reconstitution needs to be executed incorporating the changes. Further as regards the immovable property, it is mandatory for the property to be registered as there is transfer of right.
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