Ramesh (Mr.) 03 July 2010

registration of agreement

A & B has jointly booked a shop in a mall.Paid full & final payments to builder.A is 75% & B is 25% partner which is signed by both on letter head of A. Now market price is increased to 3 times. B is insisting to get 50% share in it.otherwise he will not come forward for registration of agreement.Hence possession is also not given by builder.A is ready to register the agreement in joint name of A & B.can builder register & give possession in joint name in the absence of B.

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3 Replies

J.VINOTH ( ADVOCATE MADRAS HIGH COURT) 03 July 2010

Mr. Ramesh

The builder can come forward to register but wat does the partnership agreement b/w A & B state with regard to the registation & the general transaction.

Ramesh (Mr.) 03 July 2010

Thanks Mr. J Vinoth, and for your query, Iam giving you details of text on letter head.A & B . BOTH HAVE JOINTLY PURCHASED A SHOP IN------, HAVING AREA------.IN THAT 75%SHARE BELONGS TO A AND 25% SHARE BELONGS TO B .BOTH OF THESE ARE ENTITLED FOR PROFIT OR LOSS, IF ANY, IN OWNERSHIP OF THAT SHOPIN RATIO OF 75 : 25 BASIS BETWEEN BOTH PARTNERS ie A & B.

Devesh A. Bhatia (Advocate) 03 August 2010

Builder can give posession to the partnership firm and either of the partners can take posession if the property is purchased in name of the firm.

If its a separate property in name of 2 individuals then both of them should be present to take posession or any one representing them with a POA shall be there.