1 st partner of shop wants to give shop to 2nd partner
snehajoshi
(Querist) 08 March 2012
This query is : Resolved
There are 2 partner of shop which both the persons are owner of this shop and registered with dashtavej and now 1st partner wants to give this shop to 2nd partner.1st partner is ready to take his money from 2nd partner. no matter what's the amount.but the question is what's a legal process need to do if this is the case.should we need to make new dastavej with this? or if we make this on 100 stamp paper get sign of 1st partner to showing that he's releasing his share to 2nd partner and taking a amount for his share....is it proper way or we need to make new dastavej on 2nd partner name?and if it's okay on 100 stamp paper then if we want transfer this property on 2nd partner name in municipal(authorize organization who register all property)what's the process we should follow over there.is it okay if we'll show that 100rs stamp paper to there with showing that 1st partner is releasing his share and want to give all rights to 2nd partner..and 3rd possibility of it is if we can make will to give all rights to 2nd partner but even in this case 2nd partner is going to give money for taking this shop in his name so what's the possibilities with even this case.so,guide me what's a best option for this case?i want to know that's which is the exact right way to go with legal terms..if we transfer on 2nd person's name by dastavej then also that 2nd partner has already 1/2 part of his property in this shop.so,what we need to do?which is the best option by dastavej or by showing in the matter of gift or by mou on 100 stamp paper but after this as i said question is this if we wants to registered 2nd partner name on government data there will be okay to show on 100rs stamp paper that the 1st partner is giving his rights of share to 2nd partner?and they'll accept it or not?
Adv.R.P.Chugh
(Expert) 08 March 2012
1st Partner can execute a registered release deed - relinquishing his right vis-a-vis that particular property in favour of the other partner, on which the other becomes the absolute owner.
Kirti Kar Tripathi
(Expert) 08 March 2012
Agree with Bharat, 1st partner relinquish his right in favour of other through a registered deed.
