Rakesh Sisodia (Manager) 20 October 2013

Buying flat with friends/unknown

Dear All,

I want to buy a flat with my 3 friends (2 are friends of a friend ) for investment purpose. What will be the procedure in buying flat with others. Will partnership deed work.? what about the stamp duty charges. ? what can we do if one of the buyers want to sell his share to someother in future. How will it work.?

Please help.

Regards

Rakesh Sisodia

Reply Follow

3 Replies

seniorcitizen (i/c) 20 October 2013

Sir,

The four of you should enter into a regular partnership agreement, [a] specifying clearly the terms of percentage of shares of each; [b] investment of each member; [c] in the event any one of you wants to retire from the partnership, whether he can sell his share to any outsider? or he has to sell his share to the remaining partners? etc.

Good Luck

Senior Citizen

Rakesh Sisodia (Manager) 21 October 2013

Dear Sir,

Thanks for your reply.

What business can we show in our partnership deed. Is it manidatory to show any business in partnership deed.?

Regards

seniorcitizen (i/c) 21 October 2013

Sir,

You can show the partnership company as "Dealing in, investing, purchasing, renting, leasing of properties etc" you may add other modes of businesses also.

Good Luck,

Senior Citizen