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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?


 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.

kavksatyanarayana (subregistrar/supdt.(retired))     24 May 2024

It is purely depended on your mutual terms and conditions and prevailing rates in the locality.  No legal issue is involved in the query.

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