That depends.  I’d want to know a) whether or not there’s a partnership agreement on record; b) if so, which partner has actual authority to bind the partnership; and, c) which partner(s) executed the deed conveying into Jim & Joe.

My answer is based on the limited information given in the hypothetical. If John is signatory to Deed #3 in his capacity as a partner of XYC Company, then I’d say John has no further interest.

Regards,
Scott Perry