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This term is used in the following Academy lessons. The lesson gives it context that a definition on its own cannot.
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Terms taught alongside this one.
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Encyclopaedia · land term
Sole proprietorship — meaning
A term used in Indian land records and land transactions, explained in English and Hindi, with the lessons and judgments where it matters.
पूरा शब्दकोश · This term is part of the Land terms Q–S glossary.
एकल स्वामित्व
Definition
The simplest structure, in which the business and the individual are the same person with no liability separation.
A sole proprietorship has no legal identity apart from its owner. If a proprietor buys land for the business, the sale deed, the mutation and the jamabandi carry the proprietor’s own name — a trade name cannot hold land. The land is the proprietor’s personal property: it answers for the business’s debts, and on the proprietor’s death it passes by succession to their heirs, not to the business. A partnership firm, an LLP or a company is treated differently, so decide the buying entity before the deed is drafted, and take a professional’s advice on it. AgriZameen guide for companies →