Partnership

Awadhesh Singh (Querist) 26 June 2015 This query is : Resolved
Dear Sir,
One of my friend is in real estate business and constructing apartments in a partnership firm. He is having his 50% share. In that project he has offered me to join him as his partner of 25% of his share of 50%. I am willing to join him as his partner of 25%. What type of agreement I should enter with him? Is it permissible as per existing law?
Pl opine

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Advocate M.Bhadra (Expert) 26 June 2015
An agreement of Admission of New Partner should be executed between you and existing partners and register with Registrar of Firms.

Awadhesh Singh (Querist) 26 June 2015
Sir,
This is not a registered firm.

ADV-JEEVAN PATIL, MUMBAI (Expert) 26 June 2015
You can execute tripartite p.agreent and register it

P. Venu (Expert) 27 June 2015
It is always advisable to register a partnership. Some States have already made it mandatory.

Rajendra K Goyal (Expert) 27 June 2015
Enter into a partnership agreement and get it registered.

Rajendra K Goyal (Expert) 27 June 2015
Repeated:

http://www.lawyersclubindia.com/experts/Partnership-544371.asp

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