Property purchase from a partner


a property is owned by 8 partners out of that 2 partner and legal heirs of 1 partner who is dead is willing to transfer their partner ship share along with property right can i purchase their share and can have my share to property although partnership deed is not registered. any judgement in this support

 

thanks

 
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Lawyer in Hyderabad.Email:ramachary64@gmail.com

Generally a partnership can be dissolved if all partners agree to the decision, or in the following circumstances:

  • It has become illegal (for example, if a partner can no longer legally own a business).
  • A partner gives written notice to the other partners.
  • A court order requires the partnership to end.
  • The life of the partnership has expired.
  • Any partner dies or becomes bankrupt.
 
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Legal Consultancy/Advocate

Mr. Jitendra,

                           Do understand that it is always important and necessary to register a Partnership deed, which clearly states the liabality etc and all other transactional/commercial responsibilities of all partners. In your case the other 2partners and Legal heirs of the Deceased partner can effect a release deed in your name. you will need to register the Partnership deed. A registered deed has many more advantages.

 
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