Is it necessary to notarize LLP agreement?

An LLP agreement is a document that lists the obligations, duties and mutual rights of partners in an LLP. As a proof that all partners are fine with the clauses mentioned in the agreement, they are required to sign the agreement and the same should be notarised.

Is it compulsory to notarize partnership deed?

Yes, it’s necessary to notarise a partnership deed but it’s best if it’s registered before the magistrate. Notarization and registration lends a legality to the deed without which the partnership will just be an agreement without enforceability.

Is a document legally binding if not notarized?

A notary can play an important role in making sure that a contract is legally enforceable, even if notarization isn’t necessary. Just like wills, there is generally no requirement that a contract be notarized in order to be legally binding.

Is E stamp paper valid for partnership deed?

E-stamps can be used in regard to all instruments on which stamp duty is payable. Such instruments include all transfer documents such as sale agreement, mortgage deed, conveyance deed, exchange deed, gift deed, power of attorney, agreement of tenancy, deed of partition, lease deeds, leave and license agreement, etc.

Is stamp paper required for LLP agreement?

The LLP Agreement must be printed on non-judicial stamp paper. Once, printed on stamp paper, it must be signed by the Partners of the LLP and notarized.

Is it compulsory to register a partnership deed?

It is not mandatory to register a partnership firm as per the provisions of the Partnership Act, 1932. However, it is better to register a partnership firm. If the firm is not registered it cannot avail any legal benefits provided to the firm under the Partnership Act, 1932.

Can partnership deed be notarized?

Hence, a firm which has entered into notarized partnership deed have no legal status for any proceedings. A notarized partnership firm cannot sue another party in case of any dispute. Hence it is suggested to Register a Partnership firm.

How do I file an LLP agreement?

LLP agreement must be filed in form 3 online on MCA Portal. Form 3 for the LLP agreement has to be filed within 30 days of the date of incorporation. The LLP Agreement has to be printed on Stamp Paper.