jitendra (c e o ) 24 August 2014

Property purchase from a partner

a property is owned by 8 partners out of that 2 partner and legal heirs of 1 partner who is dead is willing to transfer their partner ship share along with property right can i purchase their share and can have my share to property although partnership deed is not registered. any judgement in this support

thanks

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Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 24 August 2014

Generally a partnership can be dissolved if all partners agree to the decision, or in the following circumstances:

It has become illegal (for example, if a partner can no longer legally own a business).
A partner gives written notice to the other partners.
A court order requires the partnership to end.
The life of the partnership has expired.
Any partner dies or becomes bankrupt.

Arpit lalan (Legal Consultancy/Advocate) 26 August 2014

Mr. Jitendra,

Do understand that it is always important and necessary to register a Partnership deed, which clearly states the liabality etc and all other transactional/commercial responsibilities of all partners. In your case the other 2partners and Legal heirs of the Deceased partner can effect a release deed in your name. you will need to register the Partnership deed. A registered deed has many more advantages.