joint development agreement

Querist : Anonymous (Querist) 03 December 2010 This query is : Resolved
can a two land owner(borthers)with equal land can enter with joint develop agreement or MOU for the constrution of commercial complex ( with equil share of investment and profit). what are the legality in it. whether it can be registered

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R.Ramachandran (Expert) 03 December 2010
Yes, it can be done. There is nothing illegal in it. Such an agreement can be registered.
But the agreement has to be got properly drafted by a professional lawyer in order to avoid future misunderstanding / disputes.