It's a company or partnership firm. The question is not clear
Company claim on land
Land on which company structure (factory) is build, is owned by Director having 49% of shares in the company. Can Partner with 51% of shares make any claim on the land at any point of time?
Asked 4 years ago in Property Law
Religion: Hindu
5 Answers
Partner with 51 per cent shares in company has no share in the land which is individual name of one of directors
Dear Client,
if the title of the property lies with the director having 49% share in his individual capacity then no one can claim his piece of land.
Thank you
The land beneath the structure belongs to land owner.
He has let out the same to the company on lease.
Therefore the company cannot claim ownership of the land beneath.
The shareholders of the company are entitled to the company's shares alone as per articles of association.
They cannot claim any rights in the land beneath.
- As per law, partners are equally liable for any acts of the company , and hence the said partner having more share can claim the land if that land was purchased in the name of the company.
- However, as the land is owned by the director having 49% share in the company then the partner cannot claim any right over the land and he has right only in the profit and loss of the company and nothing more.
