Ahad Pathan (Salaried) 24 May 2024

Division of shop ownership

We are in discussion with our uncle for taking compensation for releasing our 50% ownership of a shop and its business partnership. Its a retail tyre shop with profit of 5-6 lacs annually. Its 40 year old shop and shops real estate valuation would be around 20 lacs approximately.

What amount should we accept as compensation for releasing our ownership?

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Quick Summary

You're looking to sell your 50% ownership stake in a 40-year-old tyre shop to your uncle. The business generates £5-6 lakh annually, and the property is valued at approximately £20 lakh. This is a mutual agreement with no legal disputes involved. The compensation amount will depend on the agreed terms and local market rates.

2 Replies

T. Kalaiselvan, Advocate (Advocate) 24 May 2024

This is a cricumstantial event and it depends on the compromise terms and conditions, there is no legal issue involved in it so soon before the conclusion of the proposed deal.