1. Ownership Lies With the Individual

• The business itself cannot hold property in its own name, as it has no separate legal identity
  
• All assets, including land, buildings, equipment, or vehicles, are legally owned by the sole proprietor
  
• Property titles, registrations, and deeds must be in the name of the individual, not the business name
  
• The business may operate under a trade name, but this does not confer ownership rights to the business itself
  
• The owner assumes full control and responsibility for the property
  

2. Use of Property for Business Purposes

• The sole proprietor can use personally owned property for business operations
  
• The property may be used as office space, retail outlet, workshop, or storage
  
• Any income or expenses related to the property are recorded in the business books
  
• The property may also be leased or rented from another party for use in the business
  
• Improvements or repairs may be considered business expenses when properly documented
  

3. Transfer and Sale of Property

• The owner can sell, lease, or transfer the property at their discretion
  
• Since the property is personally owned, no board or external approvals are required
  
• Capital gains or losses from the sale affect the individual directly
  
• The asset may be passed to heirs as part of the owner’s estate
  
• Sale or transfer should comply with applicable local property and registration laws
  

4. Liability and Risk Exposure

• If the business incurs debts or legal claims, the property is at risk
  
• Creditors may place claims on the owner’s property to recover business liabilities
  
• No legal separation between business and personal assets increases financial exposure
  
• Insurance and risk management are essential to protect property
  
• This is a key difference from limited liability entities like companies or LLPs
  

5. Documentation and Business Identity

• While property cannot be owned in the trade name, the business can still operate from the location
  
• Utility bills, rental agreements, or signage may carry the business name for branding
  
• Documents should clearly indicate the individual as the owner, even if the business name is used for display
  
• For tax and compliance purposes, the asset should be listed in the owner’s financial records
  
• Proper documentation supports claims of ownership and helps in financial planning