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in case a land lord is a partnership firm

gigi pramod - Member Since: Oct 2008
Subject - in case a land lord is a partnership firm
Dear All,

In case the land lord is a partnership firm having only 2 partners. what is the effect of the lease agreement if the landlord or authorised signatory dies. will the partnership firm dissolve? to whom will the tenant pay the rent.

Regards,
Mrs.Gigi
irudayamarockiam Full Member - Member Since: Feb 2009
Subject - Re: in case a land lord is a partnership firm
Dear Ms.Gigi,
On the death of one of the partners ( out of the two), the firm would automatically be converted into a Proprietory Firm.Your liability is therefore towards the existing Proprietory firm, provided original Tenement agreement was between you and the Partnership firm.
A.Irudayam
Advocate
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