Partition of a property on which a company exists
MOHAMED FIROZ
(Querist) 12 February 2019
This query is : Resolved
A Private Limited Company engaged in a hotel business owned by four Muslim brothers, is functioning on an undivided property owned by the same four brothers, and acquired from their father.. A dispute has arose between the brothers regarding the administration of the company. One person wants to sell his shares and also declares that he wants to sell his portion of the property. Since the whole hotel has been developed as a consolidated structure the partition of the premises is impracticable. The other three brothers want to continue the business but do not have the sufficient money to purchase the share of the disputing brother. What is the legal right of the disputant and the risks and liability of the other three brothers in running the business. I request the respected experts to give their opinion on this matter.
Suhail suhail
(Expert) 13 February 2019
Well your brother has a legal right to get the property partitioned to get his respective share, if you cannot purchase his share you have to give him the share physically. It is better for you to reach some mutual agreement
Suhail suhail
(Expert) 13 February 2019
Well your brother has a legal right to get the property partitioned to get his respective share, if you cannot purchase his share you have to give him the share physically. It is better for you to reach some mutual agreement
