Section 346(b) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(b)all property, moveable and immovable and all interests of whatsoever nature and kind therein, which vested in an existing Council immediately before the appointed day, shall be deemed to be transferred to, and shall vest without further assurance in the successor Council, subject to all limitations, conditions and rights or interests of any person body or authority in force or subsisting immediately before the appointed day;
