Ahad Pathan (Salaried) 24 May 2024
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?
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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