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Who will hold the firm after death of a partner
09-Jul-2023 (In Family Law)
Sir, I want to know that, If a firm is between two partners that is son and his son, and after the father death, the firm estate that is shop registered by the name of firm is given to whom...? Note- There are five sons of the father and I am the only son have firm partnership...!!!! My basic question... Whom the estate of firm will have...?
firm has two partners there fore your father used to having 50% part.you are five son so this 50% part will be equaly devide in you and your brothers. There is no matter that what is firm Name.
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Adv. Praveen Kachole
Indore | 25+ Answers
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If its a partnership firm then the partnership deed plays am important role as generally the partnership deed contains a clause that in the event of death of one parter what will happen to the assets of the firm . So I need to know that whether you have such a clause in your deed so that your query can be answered more efficiently.
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Adv. Sameer Kumar Shrivastava
Gwalior | 100+ Answers
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