Partner ship on rented property

Ayan (Querist) 04 December 2023 This query is : Resolved
My brother is running a garment shop.The shop is rented.
He is going to add a partner in his business.
Is it necessary to inform to the shop owner ?

Follow Query

Report Abuse

kavksatyanarayana (Expert) 04 December 2023
Legally it is not necessary but the rent deed shall be rectified in the name of the tenant as Firm (firm name).

T. Kalaiselvan, Advocate (Expert) 05 December 2023
If the rental agreement is on the name of the shop represented by the owner i.e., you, then there is no necessity to inform the landlord about including a new partner in addition.
If it was on the individual name, then it would make sense to inform the landlord about inclusion of an additional partner into the business so that both the partners are liable to comply with the terms and conditions of the rental agreement.

P. Venu (Expert) 07 December 2023
The issue is more of etiquette than than the law or its procedures.

Ayan (Querist) 08 December 2023
Thank you Mr. kavksatyanarayana
Thank you Mr.T. Kalaiselvan
Thank you Mr.P Venu
Thanks for your valuable opinion

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Ask Query
Unanswered Queries